US Consumer Confidence Rises To 5-year High
CHRISTOPHER S. RUGABER
WASHINGTON (AP) â¿¿ U.S. consumers are optimistic the unemployment rate will drop over the next 12 months, boosting their confidence to the highest level in five years.
The University of Michigan says its consumer sentiment index ticked up to 82.7 this month from 82.6 in October. The index has increased 19 percentage points in the past year.
Optimism about the job market is high. Of those surveyed, 30 percent expect the unemployment rate will fall over the next 12 months. That matches October's percentage and is the highest since 1984.Still, consumers are concerned about the "fiscal cliff," the combination of tax increases and spending cuts scheduled to take effect at the beginning of next year. If the White House and Congress don't reach a deal to avoid the cliff, confidence could fall.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV