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VOL. 127 | NO. 211 | Monday, October 29, 2012

US Consumer Confidence at Highest Level in 5 Years

MARTIN CRUTSINGER | AP Economics Writer

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WASHINGTON (AP) — A survey shows consumer confidence rose this month to the highest level in five years, an encouraging sign for the still-weak economy

The University of Michigan's final index of October consumer sentiment rose to 82.6 from 78.3 in September. That's the highest since September 2007 — three months before the Great Recession began.

Falling gas prices and a slightly better job market lifted consumers' outlook. The unemployment rate fell to 7.8 percent last month, the first time since July 2009 than it has been below 8 percent.

The survey followed a government report that said consumer spending helped boost economic growth in the July-September quarter to a 2 percent annual rate. That's up from a 1.3 percent rate in the April-June quarter.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 116 288 17,672
MORTGAGES 143 337 20,372
FORECLOSURE NOTICES 15 26 2,671
BUILDING PERMITS 139 488 36,434
BANKRUPTCIES 43 158 11,322
BUSINESS LICENSES 35 93 5,802
UTILITY CONNECTIONS 38 65 6,779
MARRIAGE LICENSES 18 86 4,002