Consumer confidence: highest level in nine years

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FILE - In this Friday, Nov. 25, 2016, file photo, shoppers carry their purchases as they walk along Fifth Avenue in New York. On Tuesday, Nov. 29, 2016, the Conference Board reports on consumer confidence for November. (AP Photo/Andres Kudacki, File)(AP Photo/Andres Kudacki, File)

(WGNO) – Consumer confidence rebounded this month to the highest level in more than nine years KATC reports.

The Conference Board says Americans’ assessment of current economic conditions was the most positive it’s been since July 2007. Their expectations for the next six months were the most optimistic since June 2015.

“The election result has had a clear positive impact on sentiment,” says Andrew Hunter, the U.S. economist at Capital Economics. “It also supports our view that consumer spending will continue to rise at a decent pace over the rest of the year,” says Hunter.

The unemployment rate is 4.9 percent, close to what economists consider full employment. Employers have had added an average 181,000 jobs a month so far this year, down from 229,000 a month in 2015 but still solid.