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Consumer confidence rebounds in December

December 30, 2014

The Conference Board’s consumer confidence index for the US, which had declined in November, rose in December to a reading of 92.6 (1985=100) from 91.0 in the previous month.

“Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions,” said Lynn Franco, director of economic indicators at The Conference Board. “As a result, the present situation index is now at its highest level since February 2008 (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.”

The number of consumers anticipating more jobs in the months ahead fell to 14.7 percent in December from 15.5 percent in November, according to the index’s survey. Those expecting fewer jobs rose to 16.9 percent from 16.1 percent.

Those saying jobs are “plentiful” rose to 17.1 percent from 16.2 percent in the previous month’s survey; those claiming jobs are “hard to get” fell to 27.7 percent from 28.7 percent in November.

MarketWatch reports the consumer confidence index is on its strongest streak since mid-2007.