Back
30 Dec 2014
US consumer confidence rises in December, but gains weaker than expected
FXStreet (London) - The US consumer confidence index as compiled by the Conference Board, rose to 92.6 in December from 91 in November.
Despite the gains, it fell below the consensus expectation of a strengthening to 93.9.
Director of Economic Indicators at The Conference Board Lynn Franco said: “Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions. As a result, the Present Situation Index is now at its highest level since February 2008 (Index, 104.0). Consumers were moderately less optimistic about the short-term outlook in December, but even so, they are more confident at year-end than they were at the beginning of the year.”
Despite the gains, it fell below the consensus expectation of a strengthening to 93.9.
Director of Economic Indicators at The Conference Board Lynn Franco said: “Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions. As a result, the Present Situation Index is now at its highest level since February 2008 (Index, 104.0). Consumers were moderately less optimistic about the short-term outlook in December, but even so, they are more confident at year-end than they were at the beginning of the year.”