By IANS/EFE,
New York : Consumers’ confidence in the US economy and their personal situations rose in December for the second straight month to reach its highest level since April, The Conference Board said Tuesday.
The Board’s Consumer Confidence Index climbed from 55.2 in November to 64.5 this month.
Analysts had forecast a reading of 59.
The strong showing in December comes after the index dipped to a 2 1/2-year low in October.
“Looking ahead, consumers are more optimistic that business conditions, employment prospects, and their financial situations will continue to get better,” Lynn Franco, director of The Conference Board Consumer Research Center, said.
She cautioned, however, that though “consumers are ending the year in a somewhat more upbeat mood, it is too soon to tell if this is a rebound from earlier declines or a sustainable shift in attitudes”.
The sub-index that gauges consumers’ appraisal of current economic conditions rose from 38.3 to 46.7, The Conference Board said.
The Expectations Index, based on responses to questions about what the economy and job market will look like in six months, advanced to 76.4 from 66.4.