WASHINGTON (Reuters) – U.S. consumer confidence improved further in November amid growing optimism about the labor market and a rally in stock markets.
The Conference Board said on Tuesday its consumer confidence index rose to 111.7 this month from a revised high of 109.6 in October. Economists polled by Reuters had forecast the index to rise to 111.3 from 108.7 previously reported.
“November’s increase was driven primarily by a positive consumer assessment of the current situation, particularly regarding the labor market,” said Dana Peterson, economist at the Conference Board.
“Compared to October, consumers were also more optimistic about future employment, reaching the highest level in nearly three years.”
