Consumer Behavior

Consumer confidence rose in December

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January 16, 2023

Consumer confidence rose in December more than industry watchers expected, registering 108.3 on a consumer confidence index for the month.

Economists expected a reading of 101 and December beat November's measure of 101.4, according to a CNN report. The December figure is the highest since April of 2022.

"The Present Situation and Expectations Indexes improved due to consumers' more favorable view regarding the economy and jobs," Lynn Franco, senior director of economic indicators at the Conference Board, said in a statement. "Inflation expectations retreated in December to their lowest level since September 2021, with recent declines in gas prices a major impetus."