Consumer confidence for November in the United States reached its highest level since early 2008 and exceeded analysts’ expectations at the start of the holiday shopping season, according to data released today by The Conference Board.
The Conference Board’s Consumer Confidence Index registered a 73.7, up from 73.1 in October. Analysts expected the index for November to come in at around 73.
The index reached its highest level since hitting 76.4 in February 2008. Lynn Franco of The Conference Board called the improvement “moderate” and the result of an increase in expectations. “Consumers have grown increasingly more upbeat about the current and expected state of the job market, and this turnaround in sentiment is helping to boost confidence,” she said.
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