US Conference Board Consumer Confidence Index increased to 111.7 in November, up from 109.6 in October, though slightly below the expected 112.0. Present Situation Index, which reflects consumers’ views on current economic conditions, saw a significant rise of 4.8 points to 140.9. Expectations Index, measuring consumer outlook for the next six months, inched up by 0.4 points to 92.3.
Dana M. Peterson, Chief Economist at The Conference Board, noted that “consumer confidence continued to improve in November and reached the top of the range that has prevailed over the past two years.”
The improvement was primarily driven by stronger consumer sentiment regarding the labor market, with future job availability optimism reaching its highest level in nearly three years.
However, expectations for future business conditions remained steady, and consumers were slightly less optimistic about future income prospects.
