The Conference Board said Tuesday that the Consumer Confidence Index, which had moved up in October, posted a moderate rise in November. The index stands at 73.7, up from 73.1 in October.
“The Consumer Confidence Index increased in November and is now at its highest level in more than four and a half years (76.4 in February 2008),” said Lynn Franco, director of economic indicators at The Conference Board, in a press release.
“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 to boost confidence,” Franco explained.
Meanwhile, the Advisor Confidence Index fell close to 12% over the past month. It stands at 84.52 (rounded to 85 in the above chart). The monthly poll reflects the views of 150 independent registered investment advisors; it is conducted by Rydex AdvisorBenchmarking, an affiliate of Guggenheim Investments.