Conference Board Index Slips From 17-year High
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.”