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.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Continue reading for free

We hope you're enjoying The Week's refreshingly open-minded journalism.

Subscribed to The Week? Register your account with the same email as your subscription.

Julie Kliegman

Julie Kliegman is a freelance writer based in New York. Her work has appeared in BuzzFeed, Vox, Mental Floss, Paste, the Tampa Bay Times and PolitiFact. Her cats can do somersaults.