U.S. consumer confidence increased in December, bolstered by a brightening jobs situation that left perceptions about economic conditions at a high last seen in February 2008, according to a private sector report released on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes rose to 92.6 from an upwardly revised 91.0 the month before. Economists expected a reading of 93.0 for December, according to a Reuters poll.
November was originally reported as 88.7.
“Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement. “… They are more confident at year-end than they were at the beginning of the year.”
The expectations index in December was 88.5 versus November’s revised 89.3, and the present situation index rose to 98.6 from a revised 93.7 in November. The present situation index is now at its highest level since February 2008.
The “jobs hard to get” index was 27.7 in December, versus a revised 28.7 the month before.
(Reporting by Michael Connor in New York; Editing by Chizu Nomiyama)