Consumer confidence climbed in December to the highest level since August 2001 as Americans were more upbeat about the outlook than at any time in the last 13 years, according to a report Tuesday from the New York-based Conference Board.
Specifically, the information released by the organization highlighted the following:
- Confidence index increased to 113.7 (forecast was 109) from a revised 109.4 in November;
- Measure of consumer expectations for the next six months rose to 105.5, the highest since December 2003, from 94.4;
- Present conditions index fell to 126.1 from 132; and
- Share of Americans expecting better business conditions six months from now rose to 23.6 percent, the highest since February 2011, from 16.4 percent.
American households are expecting a Donald Trump administration to deliver. They are more upbeat about the prospects for the economy, labor market and their incomes, according to the Conference Board’s report.
The results corroborate surveys by the University of Michigan and the National Federation of Independent Business, which showed jumps in household and business sentiment on Trump’s pledges to boost jobs, cut taxes and ease regulations.