Consumer Confidence in US Stays at 17-Year Maximum

Consumer confidence in the US increased for the fifth month in a row and remains at the highest level in 17 years. The Conference Board’s measure of consumer confidence increased in November after improving in October. The indicator has risen to the level of 129.5. Economists had expected the index to fall to 124, after the indicator 126.2 was registered in October.

The index takes into account the views of Americans on the current economic conditions and their expectations for the next six months. Economists pay close attention to figures, because consumer spending is about 70% of economic activity in the US. Such indicators allow to state that the US economy will improve in the first months of 2018.