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U.S. shopper confidence unexpectedly rebounds in October

WASHINGTON, Oct 26 (Reuters) – U.S. shopper confidence unexpectedly rose in October as issues about excessive inflation had been offset by bettering labor market prospects, suggesting financial development picked up early within the fourth quarter.

The Conference Board mentioned on Tuesday its shopper confidence index elevated to a studying of 113.8 this month from 109.8

in September, ending three straight month-to-month declines. Economists polled by Reuters had forecast the index dipping to 108.3.

Reporting by Lucia Mutikani
Editing by Chizu Nomiyama

Shoppers browse in a supermarket while wearing masks to help slow the spread of coronavirus disease (COVID-19) in north St. Louis, Missouri, U.S. April 4, 2020. REUTERS/Lawrence Bryant