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US consumer confidence rises to 110.7 in Dec

US Conference Board Consumer Confidence rose from 101.0 to 110.7 in December, above expectation of 103.9. Present Situation Index rose from 136.5 to 148.5. Expectations Index rose from 77.4 to 85.6.

“December’s increase in consumer confidence reflected more positive ratings of current business conditions and job availability, as well as less pessimistic views of business, labor market, and personal income prospects over the next six months,” said Dana Peterson, Chief Economist at The Conference Board.

“While December’s renewed optimism was seen across all ages and household income levels, the gains were largest among householders aged 35-54 and households with income levels of $125,000 and above. December’s write-in responses revealed the top issue affecting consumers remains rising prices in general, while politics, interest rates, and global conflicts all saw downticks as top concerns. Consumers’ Perceived Likelihood of a US Recession over the Next 12 Months abated in December to the lowest level seen this year—though two-thirds still perceive a downturn is possible in 2024.”

Full US consumer confidence release here.

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