Consumer Confidence in U.S. Unexpectedly Dropped in November

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Consumer confidence unexpectedly declined in November to a five-month low as Americans became less upbeat about the economy and labor market.

The Conference Board’s index fell to 88.7 this month from an October reading of 94.1 that was the strongest since October 2007, the New York-based private research group said today. The figure last month was weaker than the most pessimistic estimate in a Bloomberg survey of economists.