Consumer confidence: where does the nation stand?

New york Times reporter Stephanie Clifford says, “Americans are feeling better about the economy than they have in four and a half years, data released Tuesday shows.” Preliminary consumer confidence is at its highest since February 2008 according to November results from the Conference Board. However, many Americans continue to be cautious with their spendings this holiday season. For instance, sales dropped on Black Friday. In her article, Clifford quotes an economist at Capital Economics who says the November increase in preliminary consumer confidence is “unlikely to provide much of a boost to consumer spending. We need to get more certainty about the direction of the fiscal cliff before we can see a marked impact.”

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