The Consumer Confidence Index rose to 113.7 in December, the highest the indicator has been since August 2001, The New York Times reports. The index "is considered an important barometer of U.S. economic health because consumer spending accounts for about 68 percent of the country's total economic activity," ABC News writes.
The number was revised from 109.4 in November. "Looking ahead to 2017, consumers' continued optimism will depend on whether or not their expectations are realized," said Lynn Franco, the director of economic indicators at the Conference Board.
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