MW: U.S. consumer confidence rises on lower gas prices
By Ruth Mantell
WASHINGTON (MarketWatch) -- Falling gas prices perked up consumers in November, according to the monthly Conference Board index, which reported Tuesday that confidence rose from a record low in October. The November consumer confidence index increased to 44.9 from an upwardly revised October reading of 38.8. Economists surveyed by MarketWatch had expected a November reading of 39. "Inflation expectations, which have been at historically high levels in recent months, subsided considerably as a result of falling gas prices," said Lynn Franco, director of the Conference Board's Consumer Research Center. However, consumers' view of current conditions worsened in November, with those saying jobs are "hard to get" rising to 37.2% from 36.6% in the prior month.
