US consumer confidence rose for third consecutive week, as the Americans are far more confident about the economy compared to the beginning of the year. For the week to November 6, the index rose from 44.6 to 45.1 points. Over the past three weeks the measure rose by 3.8 points, which is the sharpest increase for such period of October 2015.
Index outlook for the economy rose from 36.9 to 37.7 points, which is the highest level since January 17. The index for personal finance account increased from 57.5 to 58.5 points.
It seems that Americans are already looking beyond the presidential elections and can be expected a rise in household spending. The tightening of the labor market began to encourage increases in wages, which is necessary to give impulse spending. This in turn should lead to economic growth.
The consumer confidence among Americans, who earn less than 50,000 USD per year also improved to the highest level since April 2015.
Attitudes among people over 65 years old rose to 9-year high, while those of unemployed consumers grow to the best value from August 2007.
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