NEW YORK – U.S. consumer confidence recovered for a second month in November but worries about high gasoline prices kept Americans pessimistic, according to a survey released on Tuesday.
Investor's Business Daily and TechnoMetrica Market Intelligence said their economic optimism index rose to 48.6 from 42.0 in October, as the effect on sentiment from recent hurricanes waned.
A reading above 50 indicates optimism.
"With the effects of the Gulf Coast hurricanes wearing off and fuel prices coming back down to more palatable levels, Americans are beginning to view their economic prospects in a more positive light," said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence, IBD's polling partner.
In a promising sign for the upcoming holiday shopping season, the six-month outlook measure surged 10.3 points to 40.2. The personal financial outlook climbed 4.6 points to 57.9.
The IBD/TIPP consumer confidence is reported ahead of the closely watched University of Michigan's consumer sentiment report, which is released on Thursday.