The Conference Board’s consumer confidence index rose again in December after posting a considerable increase in November. The index rose to a reading of 113.7 (1985=100), up from 109.4 in November.

“Consumer confidence improved further in December, due solely to increasing expectations which hit a 13-year high (Dec. 2003, 107.4),” said Lynn Franco, director of economic indicators at The Conference Board. “The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers.”

Consumers’ assessment of current conditions declined but still suggests that economic growth continued through the final months of 2016, according to Franco. “Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized,” she said.

Consumers’ appraisal of the labor market was less positive than last month, although the outlook for more jobs improved markedly. The proportion expecting more jobs in the months ahead increased to 21.0% in December from 16.1% in November. However, those anticipating fewer jobs also increased to 14.0% from 13.5%. In addition, the number of consumers stating that jobs were “plentiful” fell to 26.9% in December from 27.8% in November, while those claiming jobs are “hard to get” increased to 22.5% from 21.2%.

The percentage of consumers expecting their incomes to increase rose to 21.0% from 17.4%, while the proportion expecting a decrease fell moderately to 8.6% from 9.2%.