By IANS/EFE,
New York : US consumer confidence in the evolution of the nation’s economy rose in November to its highest level since July, The Conference Board said Tuesday.
The Consumer Confidence Index prepared by this private analysis firm based on surveys increased this month to 56 points, compared with 40.9 in October.
This month’s increase puts the indicator at its highest point since July, when it hit 59.2, and far surpassed analysts’ forecasts of around 44 percent.
This ascent comes one month after the indicator plunged to its lowest level in 2 1/2 years.
“Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak,” the director of The Conference Board Consumer Research Center, Lynn Franco, said in a news release.
She said survey respondents’ “assessment of current conditions finally improved, after six months of steady declines”, while “apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably”.
For example, the subindex that measures US consumer confidence in the current economic situation and in the job market rose to 38.3 points in November, compared with 27.1 the month before.