Financial Firm Says Consumer Confidence Up

New York, NY, Dec. 8, 2010 -- U.S. consumer confidence hit a three-year high in November and saw its biggest month-to-month increase since April, according to a report from Discover Financial Services.

Discover's U.S. Spending Monitor, a gauge of confidence and future spending intentions by consumers, rose 4.3 points to 91.8 in November from the prior month.

Discover said 31% of consumers feel economic conditions are improving, a four-point increase from October, while 45% of consumers feel conditions are worse, a four-point decline.

The company said fewer customers are planning to cut discretionary spending this year compared to 2009.