NEW YORK (AP) — Americans’ confidence in the economy in November rose to its highest level since July, accord to a report by a private research group.
The Conference Board says Tuesday its Consumer Confidence Index rose 15 points to 56.0, up from a revised 40.9 in October. The October number was the lowest level since the recession.
The November reading was the highest level since July, when it was 59.2. The 15-point increase was the biggest jump since May 2009, when there was a 14 percent increase.
A reading of 90 indicates the economy is on solid footing. Economists watch the number closely because consumer spending accounts for about 70 percent of economic activity.