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• Naroff says that threat has kept businesses from stepping up hiring. But he estimates that American consumers will help the economy emerge from the malaise that clouded the spring.
• He predicts growth accelerated in the July-September quarter to a 2.6 percent annual rate -- double the growth rate from spring. And he expects consumers will

help the economy grow at 3.2 percent rate in the final three months of the year.
• "What the recent economic reports suggest is that once the fiscal cliff issue is cleared, payroll and economic growth should surge regardless of the election results," Naroff said.
• The economy remains the top issue in this year's presidential election just three weeks before Election Day.
• The two candidates face off Tuesday in a town-hall debate at Hofstra University in New York just as national polls show the race has tightened.
• Most analysts say the second debate is crucial for Obama. The president may

also benefit from the batch of encouraging economic figures that show the economy on the rise.
• The unemployment rate dropped to 7.8 percent last month. It was the first time the rate has been below 8 percent since January 2009.
• One caveat emerged from a survey of households: Many of the new jobs were part time. A separate survey of employers showed only modest job growth.
• Still, the economy has added an average of 146,000 jobs a month in the July-September quarter -- more than twice the monthly pace in the April-June quarter.
• More jobs and lower unemployment have consumers feeling more optimistic. The University of Michigan's survey of consumer sentiment released Friday showed a reading of 83.1 for October. That's up from 78.3 in September and the highest level since September 2007 -- three months before the start of the Great Recession.
• Americans have also displayed their confidence by spending more on big-ticket items.
• Home sales are up from last year, which has lifted home prices. When home prices rise, Americans tend to feel wealthier and spend more.
• U.S. auto companies reported that sales rose 13 percent in September from a year earlier to nearly 1.2 million. Analysts think sales could hit 14.3 million this year, up from 12.8 million last year.
• The Federal Reserves' aggressive new policies could lower long-term interest rates even further, another factor that could keep sales rising.
• "Consumers still are facing a lot of problems," Christopher said. "But we are see

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