WASHINGTON (AP) — U.S. consumer confidence rose this
month to its highest level in almost five years, pushed up by steady
improvement in hiring.
The Conference Board says its consumer
confidence index rose to 73.7 in November from 73.1 in October. Both are
the best readings since February 2008.
Americans are more
optimistic because the see the job market getting better. Employers
added 171,000 jobs in October and more jobs were created in August and
September than first thought.
The survey is watched closely
because consumer spending drives nearly 70 percent of economic activity.
It is still below 90, which is consistent with a healthy economy. It
last reached that level in December 2007. The index is far above the
all-time low of 25.3 touched in February 2009.
Copyright 2012 The Associated Press.
WASHINGTON (AP) — U.S. consumer confidence rose this
month to its highest level in almost five years, pushed up by steady
improvement in hiring.
The Conference Board says its consumer
confidence index rose to 73.7 in November from 73.1 in October. Both are
the best readings since February 2008.
Americans are more
optimistic because the see the job market getting better. Employers
added 171,000 jobs in October and more jobs were created in August and
September than first thought.
The survey is watched closely
because consumer spending drives nearly 70 percent of economic activity.
It is still below 90, which is consistent with a healthy economy. It
last reached that level in December 2007. The index is far above the
all-time low of 25.3 touched in February 2009.
Copyright 2012 The Associated Press.