The consumer confidence in the United States increased in December as the brightening employment situation and improving economy boosted the Americans’ moral, according to a private sector report that was released on Tuesday.
Industry group Conference Board said that its consumer attitudes index surged to 92.6 this month from an upwardly revised 91.0 in November.
Releasing a statement, Conference Board director of economic indicators Lynn Franco, said, “Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions.
Meanwhile, several economists had expected a consumer confidence reading of 93.0 for December.
“The US consumers are more confident at year-end than they were at the beginning of the year,” Franco added.
The American consumers recorded a more favorable view of the prevailing economic conditions in the country. The December’s expectations index was 88.5 against the revised 89.3 in previous month. While the present situation index increased to 98.6 from a revised 93.7 last month.
While 17.1 percent Americans said employment was plentiful, an increase from 16.2 percent in November. Only 19.6 percent said that the business conditions were not favorable, a decline from 21.8 percent last month.
Now, the present situation index is at its highest level since February 2008.
In December, the “jobs hard to get” index was recorded 27.7 against a revised 28.7 the month before.