Consumer confidence rose to a six-month high and an index of U.S. leading indicators climbed as a nascent housing recovery started to ripple through the world's largest economy.
The Bloomberg Consumer Comfort Index rose to minus 34.8 in the week ended Oct. 14, the highest level since April, from minus 38.5 the previous week. The Conference Board's gauge of the outlook for the next three to six months increased 0.6 percent in September after a revised 0.4 percent drop in August.
Rising property prices in some parts of the country are bolstering household finances and lifting the moods of shoppers, whose spending accounts for 70 percent of the economy. Stock- market gains are also making Americans feel wealthier and contributed to the increase in the leading index, along with a jump in permits for home construction.
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