According to bloomberg, the Conference Board’s Dec. sentiment index advanced to 96.5 from a revised Nov. reading of 92.6. The median of a survey of economists was 93.5. MHProNews understands American optimism about the economy and job market has risen.
Cheaper fuel costs and an improving labor market have given people a little more room for gifts, travel and entertainment, as wages begin to slowly rise. In the next six months consumers see greater job availability and less anticipation of losing income.
The report from the Conference Board indicates the Millennials’ confidence attained the highest level since last Jan., while it was unchanged for those 35 to 54 years old, and declined for those over 55.
Americans who stated jobs were difficult to find dropped from 25.8 percent last month to 24.7 percent in Dec., while those who said jobs were plentiful hit 24.1 percent, the second highest rate in eight years.
“As 2015 draws to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.
However, fewer said they would be buying a house or automobile, and more stated a major appliance or vacation is most likely. ##
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Article submitted by Matthew J. Silver to Daily Business News-MHProNews.