Consumer confidence up in November

Publish date:
Social count:

The Conference Board's Consumer Consumer Confidence Index rose in November to its highest level in more than 4-1/2 years.

It was a sign that U.S. household spending will continue to grow, Bloomberg News reported.

The index climbed to 73.7, the highest since February 2008, from a revised 73.1 reading the prior month, figures from the New York-based private research group showed today. The median forecast of 75 economists surveyed by Bloomberg projected a reading of 73.

The report showed that the share of Americans planning to buy a house rose to a record high, indicating that improving property values and a job market recovery are making households more willing to make long-term commitments. Sustained gains in consumer spending, the biggest part of the economy, might help overcome concern about the fiscal cliff of tax increases and government spending cuts slated for early next year.

“Confidence is holding up well,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, who had projected that the confidence measure would climb to 74. “Spending is going to continue to increase. This bodes well for the fourth quarter.”

Click here for the full report.


Yamaha sponsors Jacksonville show

Yamaha has signed on as the presenting sponsor of the Jacksonville In-Water Boat Show that runs April 13 -15 at Metropolitan Park and Marina in Jacksonville, Fla.

Volvo Penta announces contest

Volvo Penta of the Americas is asking new engine owners to submit stories to its inaugural Boating Dreams contest and will award the winner with a Chevrolet Silverado pickup.

MIASF volunteers collect 32 tons of trash

The Marine Industries Association of South Florida and the Marine Industry Cares Foundation, organizers of the 41st Annual Broward County Waterway Cleanup held on March 3, collected 32 tons of trash from 31 sites around the county.

New Jersey saltwater fishing show opens today

The Progressive Saltwater Fishing Expo opens today, nearly doubling its footprint as it moves from the Garden State Exhibit Center in Somerset, N.J., to the larger, more centrally-located New Jersey Convention and Exposition Center in Edison, N.J.