U.S. Consumer confidence is at its highest this month for the first time in four years. Reports show that Americans are more positive about improvements in the labour market. The index of consumer attitudes rose to 72.2 from 68.4. Labour market assessment improved with the “jobs hard to get” going from 40.7 to 39.4. The “jobs plentiful’ category rose to 10.3 percent from 8.1 percent.
Another report shows that construction spending rose in September. It climbed 0.6 percent to an annual rate of $851.6 billion according to the commerce department. It looks like home building will add to economic growth this year for the first time since 2005.
Public sector construction spending fell 0.8 percent and a 0.3 percent drop in state and local spending caused the overall decline.
The manufacturing sector picked up slightly in October as new orders improved.
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