Closely watched measure of consumer sentiment surges more than expected in November.
November 25, 2003: 10:04 AM EST
NEW YORK (CNN/Money) - Consumer confidence rose in November, a research group said Tuesday, in a report that was stronger than Wall Street forecasts.
The Conference Board, a business research group based in New York, said its closely watched index of consumer confidence rose to 91.7, the highest level since the fall of 2002, from a revised 81.7 in October. Economists, on average, expected the confidence index to rise to 85, according to Briefing.com.
Confidence is watched closely by policy-makers and analysts since consumer spending fuels more than two-thirds of the nation's economy.
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