The Conference Board's Consumer Confidence Index, posted a moderate increase in November, following a strong increase in October, to reach 73.7. The index was up from 73.1 in October.
The Present Situation Index, a component of the Consumer Confidence Index, was almost unchanged in November at 56.6, from 56.7 in October 2012.
The Expectations Index, another component, was at 85.1 in November 2012, up from 84.0 in October 2012.
"The Consumer Confidence Index increased in November and is now at its highest level in more than four and a half years (76.4 Feb. 2008)," said Lynn Franco, Director of Economic Indicators at The Conference Board. "This month's moderate improvement was the result of an uptick in expectations, while consumers' assessment of present-day conditions continues to hold steady. 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."
The monthly Consumer Confidence Survey is conducted for the Conference Board by Nielsen, with a cutoff date of November 13 for the November report.
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