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USA: consumer confidence much stronger than expected
(CercleFinance.com) - US consumer confidence improved much more than expected in December, according to the first results of the monthly survey conducted by the University of Michigan on Friday.
The confidence index calculated on the basis of this household survey rose to 69.4 this month, after 61.3 in November, whereas economists were expecting it to be around 62. The component measuring consumers' assessment of their current situation rose to 74 from 68.3 last month, while the sub-index measuring their expectations improved to 66.4 from 56.8 in November. Joanne Hsu, the report's author, attributes this brightening to the improvement in one-year-ahead inflation expectations, now down to 3.1%, the lowest since March 2021, from 4.5% last month. Copyright (c) 2023 CercleFinance.com. All rights reserved. |
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