US consumer sentiment rises in November: survey

U.S. consumer sentiment rose more than expected in November, boosted by stronger holiday sales, according to the Thomson Reuters/University of Michigan survey.

Consumer sentiment on the Thomson Reuters/University of Michigan index was 69.3, up from 67.7 in October, the report said.

Economists polled by Reuters were expecting 69.0 for the period.

The survey is a measure of Americans' confidence about their financial situation and is a good gauge of current conditions.

The U.S. economic recovery was showing signs of slowing down, prompting the U.S. Federal Reserve to issue a second round of quantitative easing last week.

Unemployment rate remains high in the U.S. at 9.6 percent, though it has remained constant for the past 3 months. Payrolls are not accelerating and the economy is not creating enough jobs, which has created worries about the growth slowing down.