NEW YORK, Nov. 11 (UPI) -- U.S. consumer confidence is rising from its low point of two months ago, a private group said Friday.
The RBC Consumer Attitudes and Spending by Household Index hit 81 for November, up from 66.8 for October but still below last November's 89.8, the Royal Bank of Canada said.
"American consumers have had to contend with some unsettling developments
in recent months, certainly enough to dampen their expectations about future
economic conditions; but the rebound in those expectations speaks to the
underlying strength of the economy," said Vince Boberski, chief economist for
RBC Dain Rauscher.
"That's good news for everyone, but particularly businesses that rely on strong sales during the holiday season."
The index is derived from telephone interviews with 1,000 individuals across the United States this week.
