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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How is Chili's saving casual dining? Could others follow?Today's Big Question Value and TikTok virality bring in the diners
-
NASA is abandoning the climateThe Explainer Climate missions could be going dark
-
Every MCU movie since 'Avengers: Endgame,' rankedThe Week Recommends How did the recent 'Fantastic Four: First Steps' stack up?
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
