Consumer confidence rebounds in US
November 30th, 2011 - 11:59 am ICT by IANSNew York, Nov 30 (IANS/EFE) 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.
–IANS/EFE
rd
- US consumer confidence continues rise - Dec 28, 2011
- US consumer confidence declines - Jun 01, 2011
- Little change in US consumer confidence - Sep 28, 2011
- US consumer confidence at 28-month low - Aug 31, 2011
- US consumer confidence at 2-year low - Oct 26, 2011
- US consumer confidence at five-month low - Mar 12, 2011
- US consumer confidence edges upward - Sep 17, 2011
- South Korea's consumer confidence rises - Nov 24, 2011
- US factory orders rose in July - Sep 01, 2011
- Growth slows in US service sector - Dec 06, 2011
- US consumer confidence at three-decade low - Aug 13, 2011
- China manufacturing expands in April (Lead) - May 01, 2012
- US stocks mixed amid thin trading (Lead) - Dec 28, 2011
- Growth of US manufacturing sector slows - Nov 02, 2011
- Consumer spending goes up in US - Aug 30, 2011
Tags: apprehension, ascent, business conditions, consumer confidence index, consumers, current conditions, current economic situation, declines, economy, efe, evolution, franco, holiday season, income prospects, news release, private analysis, six months, spirits, survey respondents, term outlook