Consumer Confidence Rises In November After Record Low

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Consumer confidence unexpectedly rose in November as falling gasoline prices provided relief for consumers, the Bloomberg said Tuesday.

The group’s monthly index rose to a 44.9 reading, from 38.8 record low in October, the New York-based Conference Board said. The reading is the second-lowest since 1974, Bloomberg reported.

Economists had forecast that theading would not change from the 38 originally reported for October, Bloomberg said.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.



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