The Consumer Confidence Index was 111.7 in November, up from 109.6 in October, the Conference Board said today. The present situation index — based on consumers’ assessment of current business and labor market conditions — increased by 4.8 points to 140.9. The expectations index—based on consumers’ short-term outlook for income, business and labor market conditions—increased by 0.4 points of 92.3.
“Consumer confidence continued to improve in November and reached the top of the range that has prevailed over the past two years,” said Dana Peterson, chief economist at the Conference Board. “November’s increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market. Compared to October, consumers were also substantially more optimistic about future job availability, which reached its highest level in almost three years. Meanwhile, consumers’ expectations about future business conditions were unchanged and they were slightly less positive about future income.”
