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[Bullwinkle]

Consumer confidence improves
Tue Nov 29,10:03 AM ET


NEW YORK (Reuters) - U.S. consumer confidence picked up in November as Americans took comfort from falling gasoline prices and better job prospects, according to a report published on Tuesday.

The Conference Board, a private research group, said its index of consumer moods jumped to 98.9 this month from 85.2 in October, boding well for the critical holiday shopping season.

Economists' median forecast was for a rise to 90.0.

"A decline of more than 40 cents (per gallon) in gasoline prices this month and the improving job outlook have combined to help restore consumers' confidence," said Lynn Franco, director of The Conference Board's Consumer Research Center.

"While the index remains below its pre-Katrina levels, the shock of the hurricanes and subsequent leap in gas prices has begun wearing off just in time for the holiday season."

The Board's present situation index rose to 114.0 from 107.8, while the expectations component soared to 88.8 from 70.1.


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