Consumer Comfort Index Continues To Pick Up Steam

The sharp gain in the prior week was no fluke for the consumer comfort index which, unlike other readings on confidence, has been picking up steam going into next week's presidential election. After rising an outsized 2.6 points in the prior week, the index added another 7 tenths in the October 30 week to 44.6 for the best reading since August. Strength in consumer confidence is tied to strength in the labor market.