The Index of Consumer Expectations (ICE), tracking consumer expectations about the economy, was up 5.5 points in October 2012 to reach 177.7. This was the highest level in almost five years.

The October 2012 ICE is also up 18 points from October 2011, and is at the highest level ever for the month of October since the index was launched in 2007.

"While an abundance of economic uncertainties remain, individuals are generally feeling better about the future," said Shawn DuBravac, CEA chief economist and senior director of research. 

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