The U.S. Consumer Confidence Index, after an October decline to 40.9, improved in November to 56.0 (1985=100), according to the Conference Board.
The Present Situation Index rose from 27.1 in October to 38.3 in November. The Expectations Index rose from 50.0 to 67.8.
Consumers' assessment of business conditions now:
• consumers who said business conditioners are good: 13.3% (11.2% in October)
• consumers who said business conditions are bad: 38.2% (43.7% in October)
Consumers' assessment of the labor market now:
• consumers who said jobs are plentiful: 5.8% (3.6% in October)
• consumers who said jobs are hard to get: 42.1% (46.9% in October)
Consumers' assessment of business conditions in the next six months:
• consumers expecting business conditions to improve in the next six months: 13.6% (10.2% in October)
• consumers expecting business conditions will worsen: 15.8% (21.3% in October)
Consumers' assessment of the labor market in the next six months:
• consumers' expecting more jobs: 12.9% (10.8% in October)
• consumers expecting fewer jobs: 24.1% (27.6% in October)
Consumers expecting an increase in their income: 14.9% (11.1% in October).
"Confidence has bounced back to levels last seen during the summer (July 2011, 59.2)," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers' assessment of current conditions finally improved, after six months of steady declines. Consumers' apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak."
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