NEW YORK ( TheStreet ) -- Consumer confidence spiked in November according to a report from the Conference Board.
The Conference Board's monthly consumer confidence index jumped to a reading of 56 for the month, up from a 40.9 reading in October and well ahead of economists expectations for a reading of 44.
"Confidence has bounded back to levels last seen during the summer (July 2011, 59.2)," said Lynn Franco, director of the Conference Board's consumer research center. "Consumers' assessment of current conditions finally improved, after six month of steady declines....Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak."
-- Written by Ross Tucker in New York.
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