Consumer expectations hit 13-year high, says Conference Board
The Conference Board Consumer Confidence Index rose in December, following a big hike in November. The main reason was a sharp spike in expectations, which were the highest since December 2003.
The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices, which reached a 13-year high, was most pronounced among older consumers, said Lynn Franco, director of economic indicators at the Conference Board. Consumersêassessment of current conditions, which declined, still suggests that economic growth continued through the final months of 2016. Consumersê continued optimism will depend on whether or not their expectations are realized.
Consumersê assessment of current business conditions declined in December, as did their appraisal of the labor market. But their short-term business outlook and outlook for the labor market improved considerably.Download Bulletin PDF