- Prior report 109.5 (expectations was for 111.0)
- consumer confidence 115.8 is the best level since July
- Present situation 144.1 down from 144.4
- Expectations 96.9 versus 90.2
- 55.1% of consumers said jobs were plentiful down from 55.5% (still a strong reading)
- 12.5% of consumers said jobs were hard to get up from 10.8%
- 19.9% of consumers said business conditions were good versus 17.9% last month
- 26.8% of consumers said business conditions were bad down from 27.3% last month
Looking six month forward:
- 26.7% of consumers expect business conditions will improve versus 25.6 last month
- 17.9% expect business conditions to worsen versus 19.6% last month
- 25.1% of consumers expect more jobs be available in the months ahead, up from 22.8%
- 14.8% anticipate fewer jobs down from 19.0%
- 18.0% of consumers expect their incomes to increase down from 18.9% last month
- 11.5% expect their incomes will decrease, down slightly from 11.7%
Lynn Franco, Senior Dir. of economic indicators at the conference Board said:
"Consumer confidence improved further in December, following a very modest gain in November. The Present Situation Index dipped slightly but remains very high, suggesting the economy has maintained its momentum in the final month of 2021. Expectations about short-term growth prospects improved, setting the stage for continued growth in early 2022. The proportion of consumers planning to purchase homes, automobiles, major appliances, and vacations over the next six months all increased.”
“Meanwhile, concerns about inflation declined after hitting a 13-year high last month as did concerns about COVID-19, despite reports of continued price increases and the emergence of the Omicron variant. Looking ahead to 2022, both confidence and consumer spending will continue to face headwinds from rising prices and an expected winter surge of the pandemic.”
