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Consumer confidence is making strides, recovering from pre-government shutdown levels, according to the Conference Board’s Consumer Confidence Index®.
The index, which had decreased in November, rebounded in December, now standing at 78.1, up from 72.0 the month prior.
“Consumer confidence rebounded in December and is now close to pre-government shutdown levels (September 2013, 80.2),” says Lynn Franco, director of economic indicators. “Sentiment regarding current conditions increased to a 5½-year high (April 2008, 81.9), with consumers attributing the improvement to more favorable economic and labor market conditions.
Franco says moving forward, consumers were more confident in future economic and job prospects, but were moderately more pessimistic about their earning prospects. “Despite the many challenges throughout 2013, consumers are in better spirits today than when the year began,” Franco says.
Consumers’ appraisal of overall current conditions improved as well. Those claiming business conditions are “good” edged down to 19.6 percent from 20.4 percent, however, those claiming business conditions are “bad” decreased to 22.6 percent from 24.6 percent. Consumers’ appraisal of the job market was also more upbeat. Those saying jobs are “plentiful” ticked up to 12.2 percent from 12.0 percent, while those saying jobs are “hard to get” decreased to 32.5 percent from 34.1 percent.
To read the full press release click here.
