Retail US consumer confidence rises to 108.3 in Dec 2022: TCB 23 Dec '22 3 min read Pic: Shutterstock/ Nejron Photo Consumer Confidence Index for the US increased in December 2022 following back-to-back monthly declines, as per The Conference Board (TCB). The index now stands at 108.3 (1985=100), up sharply from 101.4 in November. The Present Situation Index—based on consumers’ assessment of current business and labour market conditions—increased to 147.2 from 138.3 last month.The Expectations Index—based on consumers’ short-term outlook for income, business, and labour market conditions—improved to 82.4 from 76.7. However, expectations are still lingering around 80—a level associated with recession, according to a press release by TCB.Consumer Confidence Index for the US increased in December 2022 following back-to-back monthly declines, as per TCB. The index now stands at 108.3 (1985=100), up sharply from 101.4 in November. The Present Situation Index—based on consumers' assessment of current business and labour market conditions—increased to 147.2 from 138.3 last month.“Consumer confidence bounced back in December, reversing consecutive declines in October and November to reach its highest level since April 2022,” said Lynn Franco, senior director of economic indicators at The Conference Board. “The Present Situation and Expectations Indexes improved due to consumers’ more favourable view regarding the economy and jobs. Inflation expectations retreated in December to their lowest level since September 2021, with recent declines in gas prices a major impetus. Vacation intentions improved but plans to purchase homes and big-ticket appliances cooled further. This shift in consumers’ preference from big-ticket items to services will continue in 2023, as will headwinds from inflation and interest rate hikes.”Consumers’ assessment of current business conditions improved in December. Around 19 per cent of consumers surveyed said business conditions were ‘good,’ up from 17.8 per cent, while 20.1 per cent said business conditions were ‘bad,’ down from 23.6 per cent. Consumers’ appraisal of the labour market was also more favourable.Moreover, 47.8 per cent of consumers said jobs were ‘plentiful,’ up from 45.2 per cent and 12 per cent of consumers said jobs were ‘hard to get,’ down from 13.7 per cent.Consumers were less pessimistic about the short-term business conditions outlook in December. About 20.4 per cent of consumers expect business conditions to improve, up from 19.8 per cent. Also, 20.3 per cent expect business conditions to worsen, down from 21.0 per cent.Consumers were more upbeat about the short-term labour market outlook. Around 19.5 per cent of consumers expect more jobs to be available, up from 18.5 per cent, while 18.3 per cent anticipate fewer jobs, down from 21.2 per cent, added the release.Consumers gave mixed responses about their short-term income prospects. About 16.7 per cent of consumers expect their incomes to increase, down slightly from 17.1 per cent. However, 13.3 per cent expect their incomes will decrease, down from 15.8 per cent.The monthly Consumer Confidence Survey, based on an online sample, is conducted for TCB by technology company Toluna. Fibre2Fashion News Desk (NB) More The Conference Board News... More Retail News - United States Of America...