US: Improving Consumer Confidence in December

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Consumer confidence in the United States improved more than initially estimated in December, suggesting that the economy continues to grow despite growing concerns about the impact of the rapidly spreading Coronavirus’s Micron mutation.

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In particular, the University of Michigan Consumer Confidence Index rose slightly during the final measurement to 70.6 points, compared to the preliminary measurement at 70.4 points, being significantly higher than the 67.4 points in November.

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Economists in a poll by The Wall Street Journal expected the index to reach the level of the initial measurement, ie 70.4 points.

A development that is considered positive given that consumer confidence is under pressure recently in the US, due to high inflation and uncertainty created by the Omicron mutation, which due to its rapid spread has already led to restrictive measures in several economies worldwide.

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Source From: Capital

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