You are currently viewing the printable version of this article, to return to the normal page, please click here.

U.S. consumer confidence at highest level in 4½ years

- Associated Press - Tuesday, November 27, 2012

WASHINGTON (AP) — U.S. consumer confidence rose this month to its highest level in almost five years, pushed up by steady improvement in hiring.

The Conference Board said its consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

Americans are more optimistic because they see the job market getting better. Employers added 171,000 jobs in October, and more jobs were created in August and September than first thought.

The survey is watched closely because consumer spending drives nearly 70 percent of economic activity. It is still below 90, which is consistent with a healthy economy. It last reached that level in December 2007. The index is far above the all-time low of 25.3 in February 2009.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.