The Conference Board’s Consumer Confidence Index® rose 21 percent year on year to 64.5 points for the month of December 2011. The group defines a reading of 100 points or more to be reflective of a positive economic environment. The index stood at 55.2 points in November. The Present Situation Index in December rose 88 percent year on year to 46.7 points and the Expectations Index rose slightly to 76.4 points.
Lynn Franco, the director of The Conference Board Consumer Research Center, said. ”After two months of considerable gains, the Consumer Confidence Index is now back to levels seen last spring, or April 2011. 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.”