Quantcast
Last updated on April 16, 2014 at 17:30 EDT

Consumer confidence keeps recovering

November 8, 2005

NEW YORK (Reuters) – U.S. consumer confidence recovered for
a second month in November but worries about high gasoline
prices kept Americans pessimistic, according to a survey
released on Tuesday.

Investor’s Business Daily and TechnoMetrica Market
Intelligence said their economic optimism index rose to 48.6
from 42.0 in October, as the effect on sentiment from recent
hurricanes waned.

A reading above 50 indicates optimism.

“With the effects of the Gulf Coast Hurricanes wearing off
and fuel prices coming back down to more palatable levels,
Americans are beginning to view their economic prospects in a
more positive light,” said Raghavan Mayur, president of TIPP, a
unit of TechnoMetrica Market Intelligence, IBD’s polling
partner.

In a promising sign for the upcoming holiday shopping
season, the six-month outlook measure surged 10.3 points to
40.2. The personal financial outlook climbed 4.6 points to
57.9.

The IBD/TIPP consumer confidence is reported ahead of the
closely watched University of Michigan’s consumer sentiment
report which is released on Thursday.


Source: reuters