Consumer sentiment climbed in October to the highest level since the start of 2004 as households grew upbeat about the outlook for the U.S. economy, a University of Michigan survey showed Friday (Oct. 27).

Gains in incomes, higher property values and stocks at a record kept sentiment about personal finances near an all-time high. More than half of all respondents in the survey said they anticipated the good times would persist in the coming year and expected the economic expansion would endure over the next five.

Improved finances were reported by 53% of all consumers this month, the biggest share since early 2000. Even more compelling was the fact that the recent gain was spread across age and income groups.
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