Confident Americans Rushing To Book Vacations

The percentage of Americans planning to take a vacation in the next six months jumped in October to the highest level since at least 1978, according to a report published Tuesday by the Conference Board.

The splurge in planned vacation spending reflects soaring optimism about the healthy jobs market and booming stock market. The unemployment rate of 4.2% is the lowest in 16 years and the Dow has zoomed to record highs.

Consumer confidence, as measured by the Conference Board, climbed in October to 125.9 — the best level of the recovery from the Great Recession. Confidence hasn’t been this high since December 2000.

“Consumer confidence is going straight up along with the stock market,” Chris Rupkey, chief financial economist at MUFG Union Bank, wrote in a report on Tuesday.    MORE

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