US consumer confidence booms in November

0 Comments | AFP, November, 2003

WASHINGTON (AFP) — US consumer confidence boomed in November to the highest level in more than a year as the economic recovery gathered pace and labor market gloom began to lift, a survey showed.

A consumer confidence index, compiled by the Conference Board from a survey of 5,000 households, surged 10.0 points from the previous month to 91.7 in November, the highest level since September 2002.

The increase was far steeper than analysts had expected.

"Consumer confidence is now at its highest level since the fall of 2002," said Conference Board consumer research center director Lynn Franco on Tuesday.

Both components of the index -- people's feeling about the present situation and the future -- improved.

The present situation index surged 13.1...