The Conference Board spreads some holiday cheer with its December consumer confidence report:
The Conference Board’s Consumer Confidence Index, which had been on the decline since August, rebounded in December. The Index now stands at 102.3 (1985=100), up from 92.6 in November. The Expectations Index rose to 99.9 from 90.2. The Present Situation Index increased to 105.9 from 96.3...
“The continuing economic expansion, combined with job growth, has consumers ending the year on a high note,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center. “The most significant contributor to the rebound in confidence has been the overall improvement in current conditions over the past twelve months. And consumers’ outlook suggests that the economy will continue to expand in the first half of the new year.”
This puts an exclamation point on last week's, also positive, report on consumer sentiment from the University of Michigan, and the general parade of good economic news.
Happy New Year.