U.S. Consumer Confidence Hovers Near 2008 High

Growing optimism about the economy caused U.S. consumer confidence to hover around its highest level in four years in the week ending Dec. 23, according to the Bloomberg Consumer Comfort Index. “Households are increasingly confident about their own personal finances, which is likely to sustain the improvement in consumer sentiment in 2013,” says Bloomberg economist Joseph Brusuelas. Optimism among those 45 to 54 years old rose to its highest level since the week ending April 29. Sentiment among Americans with at least $100,000 in yearly income remained positive for the eighth week in a row, the longest duration since the 13 weeks ended June 17. Gains in employment may be helping buoy consumers’ views that the economy is recovering, as payrolls climbed by 146,000 workers in November, the most since August. Housing continues to be a positive growth area, with a report from the S&P/Case-Shiller group estimating that property values exceeded October projections. Households also are enjoying less of a gasoline burden thanks to reduced gas prices.

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From “Consumer Comfort in U.S. Hovers Near Highest Since 2008″
Bloomberg (12/27/12) Jamrisko, Michelle