Consumer Confidence Index Bounces Back in December
The Conference Board Consumer Confidence Index, which had declined in November, improved in December. The index now stands at 92.6 (1985=100), up from 91.0 in November. The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index decreased to 88.5 from 89.3 in November.
Consumers’ appraisal of current conditions was considerably more favorable in December. Those saying business conditions are “good” was unchanged at 24.8%, while those claiming business conditions are “bad” decreased from 21.8% to 19.6%. Consumers were also more positive in their assessment of the job market, with the proportion stating jobs are “plentiful” increasing from 16.2% to 17.1%, and those claiming jobs are “hard to get” decreasing from 28.7% to 27.7%.