Consumer confidence continued to improve in December, even as the assessment of the present situation posted a slight decline from the previous month.
Source: The Conference Board
The Consumer Confidence Index stood at 115.8 in December, up from 111.9 in November. The latest reading indicated an improvement from the modest gain recorded in the previous month.
The Present Situation Index dropped to 144.1 during the month, down from 144.4 in November. This suggests that the economic momentum was sustained in the last month of the year.
The Expectations Index climbed to 96.9 from 90.2, covering the short-term outlook for income, business, and labor market conditions. An increase was recorded in the expected job listings in the months ahead, while fewer jobs are anticipated.
Inflationary concerns declined after posting a 13-year high in November, along with concerns regarding the COVID-19 despite the emergence of the Omicron variant.