ABA Banking Journal
The Conference Board Consumer Confidence Index increased to 107.1 in November, up 6.3 points from October. The Present Situation Index rose 7.2 points to 130.3, while the Expectations Index jumped 5.7 points to 91.7.
“Consumer confidence improved in November after a moderate decline in October, and is once again at pre-recession levels,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “A more favorable assessment of current conditions coupled with a more optimistic short-term outlook helped boost confidence. And while the majority of consumers were surveyed before the presidential election, it appears from the small sample of post-election responses that consumers’ optimism was not impacted by the outcome. With the holiday season upon us, a more confident consumer should be welcome news for retailers.”
Consumers’ labor market outlook was mixed during November. The percentage of consumers expecting more jobs in the coming months was virtually unchanged at 14.5%. However, the share anticipating fewer jobs declined from 16.6% to 13.8%. Income expectations were largely unchanged, as 17.5% expected their incomes to increase in coming months, the same as in October.
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