Consumer confidence rises to a 4-month high
Consumer confidence rose in December, but a little less than expected, according to a preliminary reading from the University of Michigan's survey of consumers.
The headline index was 91.8, versus the estimate for 92.
The release said, "in a repeat of last month's findings, all of the early December gain was recorded among households with incomes in the bottom two-thirds (+2.7%), while the Sentiment Index among consumers with incomes in the top third declined (-4.4%).
Importantly, the survey recorded persistent strength in personal finances and buying plans, while the largest loss was in how consumers judged prospects for the national economy during the year ahead.
The data continue to indicate that real consumer expenditures will grow by 2.8% in 2016 over 2015."
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