BY CHRISTOPHER S. RUGABER, AP Economics Writer
WASHINGTON (AP) - U.S. consumer confidence rose this month to its highest level in almost five years, helped by a better outlook for hiring over the next six months.
The Conference Board said Tuesday that its consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.
The index is still below the level of 90 that is consistent with a healthy economy. It last reached that point in December 2007, the first month of the Great Recession. But the index has increased from the all-time low of 25.3 touched in February 2009.
Higher consumer confidence could translate into a more robust holiday shopping season and stronger economic growth. Consumer spending drives nearly 70 percent of economic activity.
The report also supported the findings of a separate survey from the University of Michigan released last week, which showed consumer sentiment at a five-year high. Still, both surveys increased at slower rates than the previous month.
Americans are growing more optimistic because they see the job market getting improving, the Conference Board said. Employers added 171,000 jobs in October and more jobs were created in August and September than first thought.
The Conference Board surveyed approximately 5,000 households in the first two weeks of the month. Those surveyed were asked how they felt about the economy and job market now, as well as where they see both going in six months.
The survey found that most people viewed current conditions the same as in October. But the percentage of Americans who expect more jobs to be available in the next six months rose to 20.3 percent, from 19.7 percent in October.
More Americans said they plan to buy a home, an appliance or take a vacation, the survey found. But the percentage expecting to buy a car fell.
Many of the participants in the Michigan survey said they expect the unemployment rate to drop over the next six months. Still, some expressed concerns about the "fiscal cliff," a package of sharp tax increases and spending cuts that will take effect next year unless Congress and the White House can replace them. The tax increases would leave consumers with much less money to spend.
A better housing market may also be contributing to consumers' better mood.
Standard & Poor's/Case-Shiller reported Tuesday that its 20-city index of home prices rose 3 percent in September compared with the same month last year. Prices also gained 3.6 percent in the July-September quarter compared with the same quarter in 2011.
Across the nation, prices increased in 18 of 20 cities over the 12-month period.
- <p>
A. Guns<br />
B. Knives<br />
C. Pepper spray bomb<br />
D. Brass knuckles</p>
- <p>
In 2010, a <a href="http://news.yahoo.com/black-fridays-deadliest-deals-234300212.html" target="_blank">Florida man</a> was arrested while waiting in line for Walmart to open its doors. Upon investigation, police discovered that he was attempting to bring a handgun, two knives, a pepper spray grenade and illegal pharmaceuticals into the store. He was not, however, packing a set of brass knuckles.</p>
- <p>
A. New York<br />
B. Minneapolis<br />
C. Philadelphia<br />
D. Los Angeles</p>
- <p>
By the early 1960's, police officers in the <a href="http://www.visualthesaurus.com/cm/wordroutes/the-origins-of-black-friday/" target="_blank">City of Brotherly Love</a> had begun referring to the day after Thanksgiving as Black Friday, in honor of the heavy foot and automobile traffic that the sales brought.</p>
- <p>
A. $61.75 billion<br />
B. $52.5 billion<br />
C. $45.3 billion<br />
D. $37.9 billion</p>
- <p>
According to the <a href="http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1260" target="_blank">National Retail Federation</a>, Black Friday 2011's haul -- $52.4 billion -- was a record for the holiday.</p>
- <p>
A. Death by trampling<br />
B. Death by shooting<br />
C. A miscarriage<br />
D. Full paralysis due to dragging</p>
- <p>
While there is no record of any Black Friday shoppers suffering from full paralysis, the holiday has had a stunning level of bizarre and brutal injuries associated with its sales. 2008 was an especially bad year: In Palm Desert, Calif., <a href="http://www.huffingtonpost.com/2008/11/28/socal-toys-r-us-shooting_n_147032.html" target="_blank">two men</a> in a Toys R Us shot each other. On the opposite coast, a Walmart worker in Nassau County, N.Y., was <a href="http://www.nydailynews.com/new-york/worker-dies-long-island-wal-mart-trampled-black-friday-stampede-article-1.334059" target="_blank">trampled to death</a> and another shopper <a href="http://www.inquisitr.com/10079/walmart-stampede/" target="_blank">suffered a miscarriage</a>.</p>
- <p>
A. 4 a.m<br />
B. 1 a.m.<br />
C. Midnight<br />
D. 8 p.m.<enter caption="" here=""></enter> Thursday</p>
- <p>
For the last few years, retailers have been sliding up the start times for their Black Friday sales. This year, <a href="http://www.dailyfinance.com/2012/11/13/black-friday-sales-big-guide-to-deals-stores-opening-times/" target="_blank"><em>DailyFinance</em>'s</a> Matt Brownell reports, some Walmart and Sears stores are starting their big sales at 8 p.m on Thanksgiving Day.</p>
- <p>
A. It's the darkest day for retail workers<br />
B. It's the first big late-night shopping day of the year<br />
C. It's the date on which retailers begin to profit<br />
D. In Southern cities during segregation, it was the day set aside for African-American shoppers.</p>
- <p>
As early as the 1980s, <a href="http://www.visualthesaurus.com/cm/wordroutes/the-origins-of-black-friday/" target="_blank">a rumor</a> began to spread that Black Friday was so named because it was the day that most retailers began to see a yearly profit -- or "get into the black." (That rumor, it should be noted, was apparently started by retailers and advertisers.)</p>
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