Consumer Confidence Pops to 56, Biggest Move Since 2003
Tweet
Share
E-mail
Looking at numbers from October, you wouldn't think it was the same set of Americans surveyed as in November.
According to new data from the Conference Board Tuesday, consumer confidence over the last month ripped from an upwardly revised 40.9 in October to 56.0. The jump is the largest sequential gain since April of 2003.
The Street was looking for a reading of 44.0 for the month.
With fuel prices continuing to ease, and fewer jobless claims being made during the month, overall confidence in the economy is rebounding for many Americans heading into the holiday season.
Notably, the survey was made with final responses submitted before November 15th, ahead of the congressional supercommittee's failure to reach a deficit-reduction plan.
According to new data from the Conference Board Tuesday, consumer confidence over the last month ripped from an upwardly revised 40.9 in October to 56.0. The jump is the largest sequential gain since April of 2003.
The Street was looking for a reading of 44.0 for the month.
With fuel prices continuing to ease, and fewer jobless claims being made during the month, overall confidence in the economy is rebounding for many Americans heading into the holiday season.
Notably, the survey was made with final responses submitted before November 15th, ahead of the congressional supercommittee's failure to reach a deficit-reduction plan.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 61 bcf vs 56 bcf Expected
- MBA Mortgage Applications -2.2% vs 0.0% Prior
- US consumers' near-term inflation expectations rise in June, New York Fed says
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
