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U.S. consumer sentiment improves in November

(Xinhua)

08:44, November 30, 2011

NEW YORK, Nov. 29 (Xinhua) -- A latest report from the Conference Board on Tuesday showed confidence among U.S. consumers improved in November, suggesting Americans may be more willing to spend in the ongoing holiday shopping season.

According to the New York-based organization, its Consumer Confidence Index rose to 56.0 in November from 40.9 in October, indicating that American consumers entered a traditional holiday shopping season with better spirit even though the overall readings remain weak.

"Confidence has bounced back to levels last seen during the summer. Consumers' assessment of current conditions finally improved, after six months of steady declines," said Lynn Franco, director of the Conference Board Consumer Research Center.

"Consumers' apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably, " she added

The report also showed consumers' short-term outlook, which witnessed decline last month, was less negative in November. The proportion of consumers anticipating business conditions to improve over the next six months increased to 13.6 percent from 10. 2 percent, while those anticipating business conditions would worsen was down to 15.8 percent from 21.3 percent.

Consumers' outlook for the job market also improved. Those expecting more jobs in the months ahead rose to 12.9 percent from 10.8 percent, while those expecting fewer jobs went down to 24.1 percent from 27.6 percent. The proportion of consumers anticipating an increase in their incomes rose to 14.9 percent from 11.1 percent.

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