More evidence of a struggling economy came today from the Conference Board’s survey of Consumer Confidence for December. The Consumer Confidence Index (CCI) essentially met expectations for the month, rising to 52.9 (53.0 expected) from last month’s index of 50.6.
Respondents rated current business conditions lower than last month while the expectations index, intended to reflect buying intentions, rose significantly.
Rising optimism could translate into increased consumer consumption for the U.S. economy in the beginning of next year, although on the question of income, consumers remained pessimistic.
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