Consumer Confidence Bounces Back, Ending Year on High Note

WASHINGTON — The confidence of American consumers rebounded this month to end the year on a high note despite rising interest rates that have made credit cards and mortgages more expensive, and growing anxiety about a possible recession, according to an Associated Press report.

The Conference Board reported Wednesday that its consumer confidence index rose to 108.3 in December, up from 101.4 in November. It’s a sharp rebound, pushing the index to its highest level since April. Last month’s figure was the lowest since July.

The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — also rose, to 147.2 this month from 138.3 in November.

The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — rose to 82.4 from 76.7. Readings near or below 80 are associated with recession.

Read the full Associated Press report.

Source: https://rvbusiness.com/consumer-confidence-bounces-back-ending-year-on-high-note/