Con­fer­ence Board In­dex Slips From 17-year High

The Bond Buyer - - Market News - — Gary E. Siegel

The con­sumer con­fi­dence in­dex de­creased to 122.1 in De­cem­ber from a re­vised 128.6 last month, The Con­fer­ence Board re­ported Wed­nes­day.

The Novem­ber in­dex was orig­i­nally re­ported as 129.5.Economists pre­dicted a 127.9 read­ing for the in­dex.

The present sit­u­a­tion in­dex rose to 156.6 from a re­vised 154.9, first re­ported as 153.9, while the ex­pec­ta­tions in­dex fell to 99.1 from a re­vised 111.0, first re­ported as 113.3.

“Con­sumer con­fi­dence re­treated in De­cem­ber af­ter reaching a 17-year high in Novem­ber,” said Lynn Franco, di­rec­tor of eco­nomic in­di­ca­tors for The Con­fer­ence Board. “The de­cline in con­fi­dence was fueled by a some­what less op­ti­mistic out­look for busi­ness and job prospects in the com­ing months. Con­sumers’ as­sess­ment of cur­rent con­di­tions, how­ever, im­proved mod­er­ately. De­spite the de­cline in con­fi­dence, con­sumers’ ex­pec­ta­tions re­main at his­tor­i­cally strong lev­els, sug­gest­ing eco­nomic growth will con­tinue well into 2018.”

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