Consumer confidence up to highest level in nearly 5 years - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

WASHINGTON (WKOW) -- Consumer confidence is up this month in the U.S. to its highest level in nearly five years.

The Conference Board says the index rose to 73.7 in November. It was 73.1 in October. Both are the best readings since February of 2008.

Experts say Americans are more optimistic because the see the job market getting better. Employers added 171,000 jobs in October and more jobs were created in August and September than first thought.

The survey is watched closely because consumer spending drives nearly 70 percent of economic activity. It is still below 90, which is consistent with a healthy economy. It last reached that level in December 2007. The index is far above the all-time low of 25.3 touched in February 2009.