Consumer Confidence Bounces Back

January 2, 2015  by in Economic News, Industry   

The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index dropped to 88.5 from 89.3 in November.

“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 (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.”