US consumer confidence reached a 16-month high in November, driven by better job prospects and lower inflation.

US consumer confidence rose to 111.7 in November, up from 109.6 in October, driven by optimism about the labor market and lower inflation expectations. This marks a 16-month high, with the highest optimism about job availability in almost three years. Despite this, consumers expected slower price growth, with inflation forecasts dropping to their lowest since March 2020. Additionally, a record 56.4% of consumers anticipated rising stock prices over the next year.

November 26, 2024
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