NU Online News Service, Nov. 26, 1:49 p.m. – The Conference Board’s consumer confidence index finally bounced back in November, after declining for five straight months.
The index now stands at 84.1, up from 79.6 in October, using a base of 100 established in 1985, the Conference Board reports. The board, which is based in New York, says its expectations index rose to 88.4 from 81.1, while the board’s present-situation index rose slightly, to 77.6 from 77.2.
The board based the survey on interviews with members of 5,000 U.S. households conducted from Nov. 1 to Nov. 18.
Consumers expecting improvement in business conditions in the next six months rose slightly to 19.9% percent, from 19.3%. Those expecting conditions to deteriorate totaled 11.4%, about the same as October’s 14.3%.
Consumers expecting to see fewer jobs over the next six months declined to 18.9%, from 22.1%, while those anticipating more jobs held steady at 15.3%, the board reports. Nineteen percent of consumers expect their income to rise, up from 17.9% in October.