Consumer confidence improves in December
The numbers: The index of consumer confidence rose to 115.8 in December from a revised 111.9 in the prior month, the Conference Board said Wednesday. Economists polled by The Wall Street Journal had forecast a slight rebound to 111. Confidence in November was revised to a modest gain after initial estimates of a sharp decline.
Key details: Concerns about inflation fell after hitting a 13-year high last month. Big picture: Confidence is clearly down from its peak of 128.9 in June but it has shown some resilience in light of higher inflation and continued spread of COVID-19. While jobs are plentiful, higher prices for food and energy has become a concern for households at the lower end of the income scale. Market reaction: Stocks
moved higher after the confidence data.