Consumer Confidence Across America Records Rise in December
Consumer Confidence Across America Records Rise in December

For the second consecutive month, consumer confidence across America recorded a rise, mainly on the back of better economic environment over the coming times, as has been confirmed by an official report released on Tuesday.

According to official figures released by the Conference Board, its consumer confidence index surged to 52.9 for December, a substantial rise from the figure of 50.6 recorded for November.

The level was a tad bit below the figure of 53.0 expected by most expects. Initially, the firm has reported the November index level as 49.5, but a revision took the figure higher.

To reach at the current month's figures, a cutoff date of survey of 5,000 households was carried on December 21.

"A more optimistic outlook for business and labor market conditions was the driving force behind the increase in the expectations index. Regarding income, however, consumers remain rather pessimistic about their short-term prospects and this will likely continue to play a key role in spending decisions in early 2010", said Lynn Franco, Research Director at The Conference Board.

The month's "present situation" sub-index declined to 18.8 points from November's reading of 21.2.

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