Consumer Confidence Increases

U.S. consumer confidence rose in December to its highest reading since July, CNN reports.

What’s going on: The Conference Board’s “Consumer Confidence Index jumped to 110.7 from a downwardly revised 101 in November.”

According to the Conference Board, 21.7% of consumers said business conditions were “good” in December. That’s an increase from 18.6% in November.
Meanwhile, 16.5% said business conditions were “bad” in December, a decrease from 18.9% in November.
In addition, 40.7% said jobs were “plentiful” in December, up from 38.6% in November.

What it means: The growth reflects “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,” the business group said.