US consumer confidence jumps in November

New York shopper Consumer spending accounts for about 70% of economic activity in the US

US consumer confidence has again reached the highest level in four-and-a-half years, according to a survey.

The Conference Board's Consumer Confidence Index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

The gain was largely due to improvements in the US jobs market.

The index is seen as an important economic indicator because consumer spending accounts for about 70% of overall economic activity in the US.

Separate data from Standard & Poor's/Case-Shiller showed that house prices increased in September in most major US cities, adding more evidence of a housing recovery.

And another survey indicated that US companies in October increased their orders of machinery and equipment by the largest amount in five months, another hopeful sign for economic growth in the world's largest economy.

Orders for core capital goods, considered a proxy for business investment, rose 1.7% in October, the Commerce Department said, the best showing since May. Orders in this category had slowed since spring, acting as a drag on overall economic growth.

More on This Story

US Economy

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

  • French luxury Tea House, Mariage Freres display of tea pots Tea for tu

    France falls back in love with tea - but don't expect a British cuppa


  • Woman in swimming pool Green stuff

    The element that makes a familiar smell when mixed with urine


  • Female model's bottom in leopard skin trousers as she walks up the catwalkBum deal

    Why budget buttock ops can be bad for your health


  • The OfficeIn pictures

    Fifty landmark shows from 50 years of BBC Two


Elsewhere on the BBC

  • ITChild's play

    It's never been easier for small businesses to get their message out to the world

Programmes

  • Tuna and avacadoThe Travel Show Watch

    Is Tokyo set to become the world's gourmet capital?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.