Consumer confidence in the US surged in December, reaching a level last seen in July, driven by more positive ratings of current business conditions and job availability. The University of Michigan Surveys of Consumers also indicated a 13% increase in consumer sentiment compared to November and a 16% rise from a year ago, attributed to improvements in the expected trajectory of inflation. Additionally, optimism waned among oil companies, with a significant decrease in confidence. US consumer confidence increased in December, reaching a five-month high, driven by rising stock markets, declining average mortgage rates, and lower gasoline prices. US consumer confidence in December showed increasing optimism, with the Consumer Confidence Index reaching its highest level since July. Recession fears abate as the perceived likelihood of a US recession in the next 12 months falls to its lowest level.

Consumer Confidence Surges in US