The confidence index was buoyed by consumers’ expectations for the economy, labor market and their incomes. The expectations index increased sharply from 94.4 to 105.5.
On the other hand, consumers’ assessment of present conditions declined from 132 last month to 126.1. Those saying business conditions are “good” decreased slightly from 29.7 percent to 29.2 percent, while those saying business conditions are “bad” increased from 15.2 percent to 17.3 percent.
Lynn Franco, director of economic indicators at The Conference Board, said the post-election surge in optimism was most pronounced among older consumers. “Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized,” she said in a statement.
Dec. 15 was the cutoff date for the month’s preliminary results.
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