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The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 89.4 in November from a final reading of 86.9 in October, exceeding expectations for an increase to 87.3. That was the highest level since July 2007.
Job gains and falling gasoline prices boosted the U.S. consumer confidence. It's a good sign to step up holiday spending.
But expectations for income gains remained low despite recent increase.
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