Photo: Jingle All The Way trailer
The Conference Board’s November Consumer Confidence is out and it’s a beat.The measure jumped to 73.7 from 72.2 in October. This was much higher than the 73.0 expected by economists.
“The Consumer Confidence Index increased in November and is now at its highest level in more than four and a half years (76.4 Feb. 2008),” writes the Conference Board’s Lynn Franco. “This month’s moderate improvement was the result of an uptick in expectations, while consumers’ assessment of present-day conditions continues to hold steady. Over the past few months, 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.”
Here’s a historical look at confidence and retail sales growth via Bloomberg:
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