U.S. consumer confidence rose in December
2022.12.21 12:19
U.S. consumer confidence rose in December
Budrigannews.com – A survey released on Wednesday found that despite the fact that inflation dropped and the labor market remained robust in December, concerns about a recession next year persisted.
According to the Conference Board, its consumer confidence index increased from 101.4 in November to 108.3 this month. The Reuters poll of economists had predicted that the index would be 101.0. The survey places a greater emphasis on the still-tight labor market.
From 7.1% last month, consumers’ 12-month inflation expectations fell to 6.7%, the lowest level since September 2021.
More Deficit in US has decreased due to growth of exports
Based on consumers’ evaluations of current business and labor market conditions, the current situation index increased to 147.2 from 138.3 last month. The assumptions file, in view of customers’ transient standpoint for money, business, and work economic situations, expanded to 82.4 from 76.7.
However, this number remains around 80, which The Conference Board attributed to the recession.
