Consumer confidence now sits at the highest level since August 2001, increasing to 113.7 in December from a revised 109.4 in November, according to an article in Bloomberg by Michelle Jamrisko.
This beat the forecast of 109 for December, thanks to Americans feeling more upbeat about the country’s outlook than at any time in the last 13 years, the article stated.
From the piece:
American households are expecting a Donald Trump administration to deliver. They are more upbeat about the prospects for the economy, labor market and their incomes, according to the Conference Board’s report.
Similarly, earlier this month, the index of consumer sentiment also increased at the beginning of December due to consumers’ initial reactions to Trump’s surprise victory.