Consumer confidence posts slight increase
But consumers’ view of conditions remains gloomy
By Furniture Today Staff -- Furniture Today, December 28, 2007
NEW YORK – Consumer confidence posted a slight increase in December, according to the latest data from the Conference Board.
The group’s Consumer Confidence Index now stands at 88.6, up from 87.8 in November. The Present Situation Index, however, decreased to 108.3 from 115.7 in November. The Expectations Index rose to 75.5 from 69.1.
“This month’s slight gain in confidence was due solely to an increase in the Expectations Index,” said Lynn Franco, director of the Conference Board’s Consumer Research Center. “Consumers’ short-term outlook regarding business conditions, employment, inflation and stock prices improved marginally. However, while consumers are less negative about the near-term future, they remain far from optimistic. Furthermore, persistent declines in the Present Situation Index indicate the economy is still losing momentum.”
Consumers’ appraisal of present-day conditions continues to paint a dismal picture. Those claiming conditions are “good” decreased to 20.3% from 22.5%. Those saying conditions are “bad” increased to 20.0% from 18.9%.
Consumers’ short-term expectations, while reversing a four-month slide, remain at levels that bear watching, according to the Board. Those expecting business conditions to worsen in the next six months decreased to 14.1% from 16.6%. Those anticipating business conditions to improve increased to 13.8% from 12.4%.
The Consumer Confidence Survey is based on a sample of 5,000 U.S. households. The monthly survey is conducted for the Conference Board by TNS.
-
Consumer Confidence Index rebounds to 65.4 in April
Apr 27, 2011 -
Consumer confidence dips slightly in March
Mar 28, 2012 -
Consumer confidence drops to fifth-lowest level
Jun 25, 2008
VIEW ALL GALLERIES
