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Consumer Confidence: Sharp Improvement Even Before Election

November 29, 2016
Bottom Line: After falling sharply in October, consumers' assessments of the economy improved notably in November. Most interestingly, much of this survey was done before the election, indicating that consumers were already starting to be less concerned about the election in the first week of November. Confidence, at 107.1, is above its three month average of 103.8. Consumers' assessments of current situations increased while expectations rose. Additionally, details were positive as 6-month outlooks for business rose modestly, outlooks for income rose modestly and employment rose modestly.

Consumer Confidence ROSE by 6.3 points in November to 107.1, compared with market expectations for an increase to 101.5. The index is now 15.7% ABOVE its year ago level.

Present Situation Index ROSE by 7.2 points to 130.3. The index is 17.5% ABOVE its year ago level.

The Expectations Index ROSE by 5.7 points to 91.7. The index is 14.1% ABOVE its year ago level.

The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved higher by 1.6 points to 5.2.