Consumer Sentiment Rises in November
NEW YORK (
) -- Consumer sentiment rose in November, as the economy added more jobs than expected and stocks rallied to new highs.
The Michigan Consumer Sentiment Index rose to 69.3 after dipping to 67.7 in October, the University of Michigan said in its preliminary estimate. Consensus estimates were for the index to rise to 69, according to
Briefing.com
.
Improving consumer confidence is key for retailers such as
Wal-Mart
(WMT) - Get Report
,
Target
(TGT) - Get Report
and
Macy's
(M) - Get Report
as they prepare for the holiday season and
Black Friday.
-- Written by Shanthi Venkataraman in New York
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