Consumer confidence rebounded in the month to 103.6 (from 101.6 in October), breaking a streak of four consecutive declines. The improvement in the subcomponents is broad and covers the judgment about the current and future economic situation, the opportunity to save and purchase durable goods. Only expectations about future unemployment registered a modest deterioration. The resilience of the labor market and the slowdown in inflation are likely helping households protect their balance sheets. Improved retail confidence, certainly driven by the sales expectations component and not actual sales, seems to fit the picture.