U.S consumer confidence surged to a near 17-year high in November, driven by a robust labor market, while house prices rose sharply in September, which should underpin consumer spending and boost economic growth.
The near-term growth outlook was, however, marred by other data on Tuesday showing a big rise in the goods trade deficit in October and a drop in inventory accumulation. The wider goods trade gap and weak inventory investment prompted economists to slash their fourth-quarter gross domestic product estimates.
