Americans More Confident In US Economy
Source: Agencies |
December 1, 2010, Wednesday
|
Print Edition
Print Edition
A monthly survey shows Americans' confidence in the economy rose in November to the highest level in five months amid more hopeful signs.
The reading is an encouraging sign at the start of the holiday shopping season. But confidence remains weak as Americans grapple with high unemployment.
The US Conference Board said yesterday its Consumer Confidence Index now stands at 54.1, up from a revised 49.9 in October. Analysts were expecting 52. November's reading marks the highest since June's 54.3.
Economists watch confidence closely because consumer spending takes up 70 percent of the United States economy. A reading of 90 is a healthy economy.
The reading is an encouraging sign at the start of the holiday shopping season. But confidence remains weak as Americans grapple with high unemployment.
The US Conference Board said yesterday its Consumer Confidence Index now stands at 54.1, up from a revised 49.9 in October. Analysts were expecting 52. November's reading marks the highest since June's 54.3.
Economists watch confidence closely because consumer spending takes up 70 percent of the United States economy. A reading of 90 is a healthy economy.
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