The U.S. consumer confidence index has surged in November marking a four month high.

U.S. private research association The Conference Board said Tuesday that the index jumped by 15-point-one to 56 in November, up from 40-point-nine point in October. The figure is much larger than market analysts’ estimate of 45 and also marks the largest monthly gain since 2003.

The Conference Board data showed consumer assessment of present conditions increased to 38-point-three in November from 27-point-one from October, posting the highest level since May.

The measure of consumer expectations for the next six months rose to 67-point-eight from 50.