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President Obama has a few new reasons to brag during the next debate. Consumer Confidence, the measure that determines how confident consumers are about investing and spending money, has risen to its highest levels since the start of the 2008 economic recession. The October jump is a huge win for Obama, and takes away one more thing for the Republicans to attack.
The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1, the highest level since September 2007, from 78.3 the prior month. The gauge was projected to fall to 78, according to the median forecast of 71 economists surveyed by Bloomberg News.