Wholesale prices fall, consumer confidence increases

Friday, Dec. 13, 2002 | 9:51 a.m.

WASHINGTON -- Wholesale prices plunged by 0.4 percent in November, the biggest decline in six months, as costs fell sharply for gasoline and cars and sporting goods prices registered a record drop, the Labor Department reported today.

Separately, U.S. consumer confidence rose in December for a second straight month, pulling away from a nine-year low and signaling Americans may have enough faith in the economy to keep spending, a University of Michigan survey showed.

The university's preliminary sentiment index rose to 87 from 84.2 in November, Bloomberg News reported. The compared with a nine-year low of 80.6 in October.

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