Consumer Confidence Rises to the Highest Level Since July

Ann Arbor, MI, December 23, 2015--Consumer confidence rose in December to 92.6, the highest level since July. The new reading is nearly equal to the 2015 average of 92.9, which was the highest since 2004.

The December gain was largely due to lower inflation, bolstering real incomes and brightening buying plans for household durables. Only on three other surveys in more than 50 years have a higher proportion mentioned the availability of price discounts for durables. Overall, the data point toward gains of 2.8% in real personal consumption expenditures during 2016.