The Conference Board’s general index rose to 108.3 points from 101.4 in November. Analysts had expected a decline in morale to 101.2 points.
Consumer confidence in the United States recorded an unexpected rebound in December and returned to its highest level for more than six months, but American households are still anticipating a recession in the months to come.
The general index rose to 108.3 points, once morest 101.4 in November, according to the index published Wednesday by the Conference Board.
This is well above the 101.2 points that were expected by analysts, according to MarketWatch consensus.
“Consumer confidence rebounded in December, reversing back-to-back declines in October and November to reach its highest level since April 2022,” Lynn Franco, senior director of economic indicators at The Conference Board, was quoted in the statement as saying.
“Inflation expectations fell in December to their lowest level since September 2021, with recent declines in gasoline prices being a major boost. Vacation intentions have improved, but plans to buy expensive homes and appliances have cooled further,” she said.
In detail, the index measuring the perception of the current situation climbed to 147.2 points, once morest 138.3 points last month.
That measuring the economic outlook is also recovering, to 82.4 points once morest 76.7 points in November, but remains around 80, “a level corresponding to the recession”, details the Conference Board in its press release.
Inflation certainly slowed down sharply in November, to 7.1% over one year once morest 7.7% in October, according to the CPI index.
But it will be necessary to see several more months of decline to be certain that inflation slows down durably, warned last week the president of the American central bank (Fed). He warned that rates will continue to rise, although less sharply than in recent months, to slow consumption and therefore inflation.
