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Consumer confidence rises in the US

In the US, the Conference Board Consumer Confidence Index rebounded in December, up 6.9 points month on month to 108.3. Contrary to market expectations, consumer confidence was expected to increase to 101 in this period. Consumer confidence stood at 101.4 in November.

The Conference Board released December data on the consumer confidence index, which measures the trends of American consumers.

Accordingly, consumer confidence index increased by 6.9 points to 108.3 in December compared to the previous month.

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Contrary to market expectations, consumer confidence was expected to increase to 101 in this period. Consumer confidence stood at 101.4 in November.

The current situation index, which reflects American consumers’ assessments of current job and labor market conditions, rose 8.9 points to 147.2 in December. The expectations index, which reflects short-term evaluations for the future, also increased by 5.7 points to 82.4 in the same period.

Lynn Franco, Senior Director of Economic Indicators of the Conference Board, whose views were given in the statement, stated that consumer confidence recovered in December after falling in October and November, reaching its highest level since April.

 

Noting that the current situation and expectations indices improved with the increase in consumers’ positive views on the economy and employment, Franco said that inflation expectations fell to the lowest level since September 2021 with 6.7 percent in December, and that the recent decreases in gasoline prices have been a major driving force in this. conveyed.

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