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Updated:
11/13/2009 10:15:00 AM
Consumer Confidence Declines in November
U.S. consumer confidence declined this month, according to the preliminary Reuters/University of Michigan monthly consumer sentiment index released Friday.
The preliminary index for the month fell to a 66 reading from 70.6 in October, the survey reported.
Economists had forecast the index to rise to a 71 reading, Bloomberg reported.
An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.
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