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U.S. consumer confidence improves further in December -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Shoppers shop in supermarkets while wearing masks that slow down the spread of coronavirus (COVID-19), in North St. Louis, Missouri. U.S. April 4, 2020. REUTERS/Lawrence Bryant

WASHINGTON (Reuters] – U.S. Consumer Confidence improved in December. It suggests the economy will expand further into 2022 despite a resurgence COVID-19 and reduced fiscal stimulation.

According to the Conference Board, Wednesday’s consumer confidence index reading rose from 111.9 in November and was upwardly revised to 115.8. Reuters polled economists and predicted that the index will rise to 110.8 from its previous reading of 109.5.

There is an explosion of COVID-19-related infections in the country, due to Omicron and Delta variants that are highly contagious. These could impact economic activity in quarter one.

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