Consumer confidence rose for November as fewer shoppers said they expected business conditions or the labor market to worsen over the next six months, according to The Conference Board.
The research group’s Consumer Confidence Index rose to 49.5 this month from 48.7 in October. A year ago, the index stood at 44.7. The Expectations Index increased to 68.5 this month from 67 in October and the Present Situation Index dipped to 21 from 21.1.
“The moderate improvement in the short-term outlook was the result of a decrease in the percent of consumers expecting business and labor market conditions to worsen,” said Lynn Franco, director of the group’s Consumer Research Center. “Income expectations remain very pessimistic and consumers are entering the holiday season in a very frugal mood.”
For complete coverage, see Wednesday’s issue of WWD.