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Report: U.S. consumer confidence rises most since 2003
Washington, D.C. -- A report released Tuesday by the Conference Board showed that consumer confidence experienced its biggest gain in more than eight years, jumping to 56 in November from a revised 40.9 reading in the month prior. The leap was the biggest since April 2003 and exceeded the most optimistic forecast by Bloomberg News.
The improvement in consumer attitude may help sustain household purchases, which account for about 70% of the economy, after sales climbed on both Black Friday and Cyber Monday.
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Playing the Privacy Card
It seemed like such a great idea at the time. On Nov. 17, we reported that mall owner Forest City had hatched this innovative plan to monitor shopping patterns at two of its shopping centers by tracking patrons’ cell phones during the holiday 2011 season, beginning Black Friday.