(Bloomberg) — U.S. rose in December by more than expected as Americans’ outlook for employment and the economy improved, suggesting some resilience in the recovery despite growing concerns about the omicron variant and elevated prices.

The Conference Board’s index increased to 115.8 from an upwardly revised 111.9 reading in November, according to the group’s report Wednesday. According to a Bloomberg survey, economists had expected a reading around 111. 

According to data, consumers are optimistic even though Covid restrictions have been placed in certain areas of the country. This is because the spread of the omicron virus has caused some people to lose their faith. Jerome Powell (Federal Reserve Chair) and several economists believe that coronavirus waves have a less significant economic impact, as Americans adapt to them better.

Households in December became slightly more sanguine about their inflation expectations for the coming year, which hit a 13-year high last month, according to the Conference Board’s data. 

The Conference Board’s expectations index increased to a five-month high of 96.9, while the gauge of current conditions edged down to 144.1.

The share of consumers who said jobs were “plentiful” fell slightly to 55.1%. The majority of consumers said that they would be more likely to buy homes, cars and appliances.

“Looking ahead to 2022, both confidence and consumer spending will continue to face headwinds from rising prices and an expected winter surge of the pandemic,” Lynn Franco, senior director of economic indicators at the Conference Board, said in a statement.