Consumer Confidence Rises in November

Consumer confidence rose in November, according to the Thomson Reuters/University of Michigan consumer sentiment index released Wednesday.

The month’s final index rose to a reading of 82.7, a five-year high, from 82.6 the prior month.

Economists had forecast the index would rise to 84.5, Bloomberg reported.

The index averaged 89 in the five years leading up to the 18-month economic recession that began in December 2007.

The survey’s index of current conditions asks Americans if they are better off than they were a year ago and if it is a good time to buy big-ticket items.