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Consumer Confidence Index in US increased to 96.5 in December
CONSUMER confidence rebounded in December, putting Americans in the mood to shop over the Christmas season, reports Bloomberg.
The Conference Board's index climbed to 96.5, from a revised November reading of 92.6, the New York-based private research group said. The median forecast in a Bloomberg survey of economists called for 93.5.
The combination of a strong job market and cheap fuel costs have strengthened household finances to buy cars, clothing and holiday gifts.
Faster wage growth should bring bigger gains in confidence and provide another boost to consumer spending, the biggest part of the economy, said the report.
The Conference Board's index climbed to 96.5, from a revised November reading of 92.6, the New York-based private research group said. The median forecast in a Bloomberg survey of economists called for 93.5.
The combination of a strong job market and cheap fuel costs have strengthened household finances to buy cars, clothing and holiday gifts.
Faster wage growth should bring bigger gains in confidence and provide another boost to consumer spending, the biggest part of the economy, said the report.
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