November consumer confidence hits more than four-year high

NEW YORK Tue Nov 27, 2012 11:00am EST

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in Chicago in this September 21, 2011 file photo. REUTERS/Jim Young/Files

A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in Chicago in this September 21, 2011 file photo.

Credit: Reuters/Jim Young/Files

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NEW YORK (Reuters) - Consumer confidence rose to a four-and-a-half-year high in November as consumers became more optimistic about the outlook for the economy, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 73.7 up from an upwardly revised 73.1 the month before, its highest since February 2008. Economists had expected a reading of 73.0, according to a Reuters poll.

October was originally reported as 72.2.

"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," Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement.

The expectations index rose to 85.1 from 84.0, while the present situation index edged slightly lower to 56.6 from 56.7.

Consumers' labor market assessment was little changed in November. The "jobs hard to get" index was flat at 38.8 percent, while the "jobs plentiful" rose to 11.2 percent from 10.4 percent.

(Reporting by Edward Krudy; Editing by James Dalgleish)

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Comments (10)
Crash866 wrote:
This bubble will hurt more than the last

Nov 27, 2012 10:15am EST  --  Report as abuse
BioStudies wrote:
I’m glad consumer confidence is up .6 it makes me feel extremely secure with the direction our country is headed….Oh wait these same people voted for socialism in the last election. Nevermind.

Nov 27, 2012 10:47am EST  --  Report as abuse
USAPragmatist wrote:
LOL, you all are funny.

Nov 27, 2012 11:23am EST  --  Report as abuse
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