Consumer Confidence Edges Upward In November

Conference Board says its Consumer Confidence Index increased slightly to 49.5, up from 48.7 in October; economists had expected a reading of 47.7.

NEW YORK (AP) -- Americans' confidence in the economy improved slightly in November, but they remain gloomy amid a weak job market heading into the holiday season.

The Conference Board says its Consumer Confidence Index increased slightly to 49.5, up from a revised reading of 48.7 in October. Economists surveyed by Thomson Reuters expected a reading of 47.7.

Economists watch consumer sentiment because spending on goods and services for consumers accounts for about 70 percent of U.S. economic activity by federal measures.

More in Supply Chain