Consumer confidence rebounded in December to a reading of 96.5, up from 92.6 in November. The present situation index increased from 110.9 last month to 115.3 in December, while the expectations index improved to 83.9 from 80.4 in November.
Those saying business conditions are "good" increased from 25.0 percent to 27.3 percent. However, those saying business conditions are "bad" also increased — from 16.9 percent to 19.8 percent.
The important reading about the labor market was more positive in December. The proportion claiming jobs are "plentiful" increased from 21.0 percent to 24.1 percent, while those claiming jobs are "hard to get" decreased to 24.7 percent from 25.8 percent. Those anticipating more jobs in the months ahead increased slightly to 12.9 percent from 12.0 percent, while those anticipating fewer jobs decreased from 18.5 percent to 16.6 percent. The proportion of consumers expecting their incomes to increase declined from 17.3 percent to 16.3 percent. However, the proportion expecting a reduction in income decreased from 11.8 percent to 9.7 percent.
Consumers’ optimism about the short-term outlook was somewhat mixed. Those expecting business conditions to improve over the next six months decreased slightly to 15.2 percent from 15.7 percent. However, those expecting business conditions to worsen increased slightly to 11.0 percent from 10.6 percent.