Consumer confidence reaches post-recession peak (by Steve Goldstein)
WASHINGTON (MarketWatch) - Consumer confidence rose in November to its best reading in more than four years, according to data released Tuesday, as growing hopes for the jobs market buoys sentiment. The Conference Board said its consumer confidence index rose to 73.7 in November from 73.1 in October. That's above the 72.2 level forecast in a MarketWatch-compiled survey of economists and the best level since February 2008. The October reading was upwardly revised from 72.2. "This month's moderate improvement was the result of an uptick in expectations, while consumers' assessment of present-day conditions continues to hold steady. 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," said Lynn Franco, director of economic indicators at the Conference Board.