The Conference Board Consumer Confidence Index has reached its highest level since February 2008, says the Conference Board in a report released Tuesday. The Index had for the month a reading of 73.7, up from 73.1 in October.
“This month’s moderate improvement was the result of an uptick in expectations, while consumers’ assessment of present-day conditions continues to hold steady,” says Lynn Franco, director of economic indicators for the Conference Board. “Over the past few months, consumers have grown increasingly more upbeat about the current and expected state of the job market, and this turnaround in sentiment is helping boost confidence.”
The Index is based on the Consumer Confidence Survey, which is based on a probability-design random sample, the report says, and it is conducted by Nielsen. The cutoff date for the results was Nov. 13.