According
to the latest report from The Conference Board, U.S. consumer confidence rose
in December on optimism on the job market. This comes after a drop in consumer
confidence in November.
The
Conference Board, an independent industry research group, said its index of
consumer attitudes rose to 78.1 from 72.0 in November. In a poll by Reuters, many
economists had expected a reading of 76.0.
According to Lynn Franco, Director of Economic Indicators at
The Conference Board: “Consumer confidence rebounded in December and is now
close to pre-government shutdown levels (September 2013, 80.2). Sentiment
regarding current conditions increased to a 5 ½ year high (April 2008, 81.9),
with consumers attributing the improvement to more favorable economic and labor
market conditions."
Consumers’
expectations, which had decreased in November, also improved in December. The percentage
of consumers expecting an improvement in business conditions over the next six
months rose from 16.7 percent to 17.2 percent.
Consumers’
overall assessment of the labor market also improved, with a sharp increase in
those anticipating more jobs (increasing to 17.1 percent from 13.1 percent).
Clickhere for the release from The Conference Board.