One of the truest measures of economic health in the U.S. is consumer confidence. A…
One of the truest measures of economic health in the U.S. is consumer confidence. A key reading of confidence dropped a bit in December.
That measure — The Conference Board Consumer Confidence Index –decline in December, following a modest improvement in November.
The Index now stands at 122.1 (1985=100), down from 128.6 in November.
However, the November reading was very strong.
“Consumer confidence retreated in December after reaching a 17-year high in November,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
Franco added, “The decline in confidence was fueled by a somewhat less optimistic outlook for business and job prospects in the coming months. Consumers’ assessment of current conditions, however, improved moderately. Despite the decline in confidence, consumers’ expectations remain at historically strong levels, suggesting economic growth will continue well into 2018.”
So, it’s not a terrible thing when we see a slight dip in consumer confidence from a 17-year high.