Consumer Confidence Jumps to 5-Year Record High - Central Coast News KION/KCBA

NEW YORK, NY - Consumer Confidence in October jumped to its' highest reading since February of 2008.

Last month's reading of 72.2 also topped expert's expectations.

Keep in mind, though, consumer spending drives nearly 70% of U.S. economic activity.

That said, the reading is still below the level indicating a healthy economy.

The last time consumer confidence reached that healthy level was back in December of 2007.