The Conference Board reported on Wednesday its U.S. consumer confidence
index jumped 9.7 points to 110.7 in December from a downwardly revised 101.0 (from
102.0) in November.
Economists had predicted the consumer confidence index to rise to 104.0.
The details of the survey revealed that the December advance in the
headline index was due to increases
both in the present situation index (+12.0 points to 148.5 this month) and the expectations index (+8.2
points to 85.6, the highest level since July).
Commenting on the results of the last survey, Dana Peterson, Chief
Economist at The Conference Board, noted that the December improvement in
consumer confidence reflected more positive ratings of current business
conditions and job availability, as well as less pessimistic views of business,
labour market, and personal income prospects over the next six months. She added
that the survey also found the top issue affecting consumers remains rising
prices in general, while politics, interest rates, and global conflicts all saw
downticks as top concerns.