US consumer confidence up

There are no reviewed versions of this page, so it may not have been checked for adherence to standards.

Thursday, December 29, 2005

Consumer confidence rose in December to levels closer to those before huricane Katrina according to the Conference Board Consumer Research Center's consumer confidence index. The index was at 105.5 before the huricane hit the port of New Orleans disrupting oil production and trade for a large part of the country. The index was at 102.7 in December last year.

The index rose to 103.6 from a revised 98.3 for November. The index was expected to only rise to 102.5.

"Consumer confidence continues to bounce back and is now at its highest level since Hurricane Katrina struck the Gulf Coast" said Lynn Franco, director of the Conference Board Consumer Research Center.

Most of the change is attributed to falling gas prices and an improved job outlook.

"The resiliency of the economy, recent declines in prices at the pump, and job growth have consumers feeling more confident at year-end than they felt at the start of 2005," Franco said. "Even though all of the improvement over the past twelve months has been in consumers' assessment of current conditions, and expectations remain below earlier levels, consumers are confident that the economy will continue to expand in 2006."

Share this:

Sources

"Confidence back to pre-Katrina levels" — CNNmoney, December 28, 2005

"Spirits high among US consumers" — Australian Financial Review, December 29, 2005

This page is archived, and is no longer publicly editable.

Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.