Confidence Jumped in November
The Conference Board's Consumer Confidence Index leapt nearly fifteen points in November over October's level, from 40.9 to 56. The Present Situation and Expectations indices rose as well.
The report follows a Black Friday and a Cyber Monday that broke sales records.
"Consumers' assessment of current conditions finally improved, after six months of steady declines," Lynn Franco, Director of The Conference Board Consumer Research Center, said as part of the announcement. "Consumers' apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak."