Consumer optimism was expected to taper slightly this month, after recording historic highs in October.

The Conference Board's measure of consumer confidence was expected decline to 124 in November, according to economists polled by Reuters. The index hit its highest mark in nearly 17 years in October when it rose to 125.9.

The index takes into account Americans' views of current economic conditions and their expectations for the next six months. Economists pay close attention to the numbers because consumer spending accounts for about 70 percent of U.S. economic activity.

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