Americans’ outlook on the economy improved modestly in November, lifted by expectations for lower inflation and more hiring. The Conference Board, a business research group, said Tuesday that its consumer confidence index ticked up to 111.7 from 109.6 in October. The small increase followed a big gain in October.

Key Takeaways Consumer confidence improved again in November, nearing its highest in two years.More people said they felt better about the current economic environment in The Conference Board monthly survey.

U.S. consumer confidence improved further in November amid growing optimism over the labor market and a stock market rally. The Conference Board said on Tuesday its consumer confidence index increased to 111.