Jeffry Bartash of MarketWatch reports that rising stocks and slowing inflation fuel optimism about 2025. Bartash writes:
Consumer confidence climbed to a 16-month high and Americans grew more optimistic about 2025, buoyed by rising stock prices, slowing inflation and a robust U.S. jobs market.
The index of consumer confidence rose to 111.7 in November from a revised 109.6 in October, the Conference Board said Tuesday. It’s the highest reading since mid-2023.
The confidence of consumers is closely tied to the health of the labor market and the index is often a bellwether for whether the economy is getting better or worse. […]
Low unemployment and rising inflation-adjusted incomes have allowed Americans to keep spending at levels sufficient to keep the economy growing and out of recession.
The latest reports on consumer confidence suggest that’s not going to change as the holiday shopping season gets underway. The economy is on track to grow at above-average speed in the 2024 fourth quarter.
Read more here.