On news that the U.S. gross domestic product rose 3.5% in the third quarter and continued signs of ongoing momentum in the stock market, the Dow Jones Economic Sentiment Indicator rose to 36.9 in October, up from 34.1 in September. It was the gauge’s highest reading since August 2008.

The indicator is based on news coverage in 15 major daily newspapers in the U.S., as opposed to the national surveys that the University of Michigan Consumer Sentiment Index and the Conference Board Consumer Confidence Index use.

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