The confidence of American consumers rebounded this month to end the year on a high note despite high inflation, rising interest rates that have made credit cards and mortgages more expensive, and growing anxiety about a possible recession.
The Conference Board reported Wednesday that its consumer confidence index rose to 108.3 in December, up from 101.4 in November. It was a sharp rebound, pushing the index to its highest level since April. Last month’s figure was the lowest since July.
The business research group’s present situation index – which measures consumers’ assessment of current business and labour market conditions – also rose, to 147.2 this month from 138.3 in November.
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