By Ruth Mantell
WASHINGTON (MarketWatch) -- An index of U.S. consumer confidence rose to 54.1 in November, reaching the highest level since June, with consumers more optimistic about future business conditions and job prospects, the Conference Board reported Tuesday. Economists polled by MarketWatch had expected a reading of 53. "Hopefully, the improvement in consumers' mood will continue in the months ahead," said Lynn Franco, director of Conference Board's consumer research center, in a statement. Confidence for October was revised to 49.9 from a prior estimate of 50.2. A barometer of consumers' expectations rose to 74.2 in November - the highest level since May -- from 67.5 in October, while consumers' assessment of the present situation ticked up to 24 from 23.5. The Conference Board's index helps analysts compare fluctuations in confidence, with a reading of 100 for the base year of 1985. Generally when the economy is growing at a good clip, confidence readings are at 90 and above.
