NEW YORK – U.S. consumer sentiment brightened slightly in November, helped by cheaper gasoline and a better jobs outlook, a survey released Wednesday showed.
The University of Michigan's final reading of its consumer confidence index (search) for November was 92.8, up from a final October reading of 91.7, according to market sources who saw the subscription-only report.
Analysts on average had forecast the index would rise to 96.0. The November preliminary reading came in at 95.5.
Consumer confidence is considered a barometer in consumer spending, which accounts for two-thirds of the U.S. economy, although the correlation between consumer confidence and retail sales has not been strong in recent years.