U.S. consumer confidence increased to a 16-month high in November amid optimism over the labor market, expectations for lower inflation and higher stock prices over the next year. Part of the second straight monthly rise in confidence reported by the Conference Board on Tuesday likely reflected the outcome of the Nov.

Consumer confidence rose in November as Americans grew more optimistic about the labor market and the current state of the economy even as other reports from earlier this fall showed home prices slowing and new home sales down sharply.

Consumer confidence climbed to a 16-month high in November, buoyed by rising stock prices, slowing inflation and a robust U.S. jobs market. The index of consumer confidence rose to 111.7 from a revised 109.

U.S. consumer confidence increased to a 16-month high in November amid optimism over the labor market, expectations for lower inflation and higher stock prices over the next year. Part of the second straight monthly rise in confidence reported by the Conference Board on Tuesday likely reflected the outcome of the Nov.