Consumer Outlook Brightens; Housing Starts Fall

Consumer confidence in the economy jumped in November, a sign that shoppers may spend more liberally for Christmas presents than retailers expected, according to a closely watched survey released Tuesday.

The Conference Board’s Consumer Confidence Index rose to 101.4 in November, a hefty 5-point gain over October. It was the first increase in three months.

The results from the business research group’s survey suggest holiday shopping could be more robust than anticipated.

In another report Tuesday, the Commerce Department said construction of new homes declined in October for a third straight month.

Housing starts unexpectedly fell 3.7 percent to a seasonally adjusted 1.34 million annual rate.