Consumer Confidence in U.S. Unexpectedly Increased in November

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Consumer Confidence in U.S. Unexpectedly Increased in November

Confidence among U.S. consumers unexpectedly rose in November, easing concern that the biggest part of the economy will retrench as joblessness mounts. The Conference Board’s confidence index increased to 49.5 from 48.7 the prior month. The New York-based Conference Board’s index, which focuses on the labor market and purchase plans, averaged 58 in 2008 and 103.4 in 2007. Improved sentiment may help boost spending and provide retailers such as Target Corp. with a brighter holiday shopping season. Sales gains may be uneven in coming months with unemployment projected to exceed 10 percent through the middle of 2010, indicating business investment will be counted on to drive the... Full Story

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Submitted Nov 24, 2009 10:21am

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