NEW YORK, November 29 – After a few negative months the consumers are beginning to express more confidence in the economy. Most important contributors are the falling gasoline prices and an improved job outlook.
The consumer’s confidence index rose to 98.9 for November, in comparison, October featured a 85.2 index. The consumer confidence index is considered an important tool for analysts and stock traders.
The index is still beneath the levels of before Katrina struck but the apparent rise is good for the economy, especially short before the big shopping season of December. Although analysts do not believe that this holiday season will bring us a new record it is reassuring to see the consumer’s confidence restoring bit by bit.
This holiday season will be dominated by “bargain shoppers” many believe. Due to the weak economy many consumers expect bargains, and will settle for no less. Online spending figures have already indicated this.
The consumer’s confidence index is based on a survey among 5,000 representative households in the United Stats. Twenty years ago the index stood at 100.
