shop til you drop
Consumer confidence just hit a 7-year high
Consumer confidence hit a seven-year high this November just in time for holiday shopping, according to one measure. The Thomson Reuters/University of Michigan index increased to 88.8, the highest since 2007 and nearly a two-point jump from October.
Stronger job growth, cheaper fuel, and high stock prices are contributing to the sentiment, Bloomberg reports.
In October, spending increased at the same rate as income. That means as consumers get more confident parting with their cash, they're still staying within their means. Black Friday madness, here we come.