Consumer confidence registered 64.5 for December. This is the fourth strongest month in more than three years! And, not far from the cycle high of 72.0 set in February 2011.
The consumers confidence is strongly influenced by the consumers assessment of the jobs market. As the unemployment rate has come down recently and with employer laying off fewer people than they have as in the past years, it comes as little surprise that confidence is returning. The difference between people saying jobs were plentiful to those saying jobs were hard to get narrowed to a difference of 35.1 (in September 2011 it was 44.5).
Source: Conference Board
