WASHINGTON(Reuters) – U.S. consumer confidence rebounded in December as inflation retreated and the labor market remained strong, but fears of a recession next year persisted, a survey showed on Wednesday.
The Conference Board said its consumer confidence index increased to 108.3 this month from 101.4 in November. Economists polled by Reuters had forecast the index at 101.0. The survey places more emphasis on the labor market, which remains tight.
Consumers’ 12-month inflation expectations fell to 6.7%, the lowest since September 2021, from 7.1% last month.
The present situation index, based on consumers’ assessment of current business and labor market conditions, rose to 147.2 from 138.3 last month. The expectations index, based on consumers’ short-term outlook for income, business, and labor market conditions, increased to 82.4 from 76.7.
But this measure remains around 80, a level The Conference Board said was associated with recession.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
