Consumer Confidence Rises to 92.6 in December!

Women make their way though Times Square with bags of purchases from Toys R Us in New York November 27, 2014. REUTERS/Carlo Allegri

According to the country’s Conference Board, consumers’ confidence has risen from 91 last month to stop at 92.6 in Decemberdue to a drop in gas prices, job growth and stock gains.The Board’s positive outlook of the current conditions does make up for theless trusting short-term view most analysts have,with economists expecting an appraisal of 93.5. But before it came to rest at the 92 mark, the measure had fallen last month all of a suddenfollowing a spike in October.

Level shows a favorable analysis of current economic situation by American public

Talking about the positive December outlook, Lynn Franco, the Director of the Conference Board commented, “Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions,” And with regards to “the present situation” the perceptions of the American public has seen an increase from 93.7 to 98.6. The measure is the highest figure ever seen after the economic crisis. When asked about whether they have been any improvementson the job front,17.1% of the public said jobs were “plentiful” with around 27.7% saying jobs were difficult to get.

For consumers it’s a time to celebrate!

The yearend has definitely brought good news for consumers,who can celebrate and ring in the New Year in a happy state of mind! The country’s economy saw a growth of 5% from July to September, one of the fastest increases in eleven years. In the month of December, employers added about 241,000 jobs, makingthis year the best as far as hiring was concerned in a long time,though the unemployment rate continued to hover at the 5.8% mark. The drop in gas prices and strong stock gains also gave a fillip to consumer expenditure. Only wages need some changes in order to keep pace with inflation.