The Conference Board Consumer Confidence Index®, showed continued improvement in December and is now back to a level we have not seen since last spring. The percentage of Americans saying business conditions were “good” improved as did their outlook on the job market and their expectations for business conditions and jobs over the next six months.
This is good news for Obama and the Democrats and very bad news for Republicans who have been hoping to ride to victory this year based upon a faltering economy, high unemployment, and low consumer confidence.
Lynn Franco, Director of The Conference Board Consumer Research Center cautions that it is to soon to know if this upturn in consumer confidence will last. He wrote:
"After two months of considerable gains, the Consumer Confidence Index is now back to levels seen last spring (April 2011, 66.0). Consumers’ assessment of current business and labor market conditions improved again. Looking ahead, consumers are more optimistic that business conditions, employment prospects, and their financial situations will continue to get better. While consumers are ending the year in a somewhat more upbeat mood, it is too soon to tell if this is a rebound from earlier declines or a sustainable shift in attitudes."
Read the full results here: http://www.conference-board.org/press/pressdetail.cfm?pressid=4370