PT Solid Gold Berjangka | US Consumer Confidence Surges by Most Since Early 2021

01:33 21 December in Economy, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Ekonomi AS Cosumer Confidence Kepercayaan Konsumen PT SGB Solid Group Solid Gold Berjangka SG Berjangka

Solid Gold Berjangka | It seems that in December, US consumer confidence experienced a significant increase, reaching its highest level since early 2021. Here are some key points from the data:

  1. Overall Consumer Confidence:
    • The Conference Board’s index rose to 110.7 in December from a revised 101 reading in November.
    • The median estimate in a Bloomberg survey of forecasters had called for a 104.5 reading, indicating that the actual increase surpassed expectations.
  2. Expectations:
    • The measure of expectations, which reflects the outlook for about six months ahead, advanced. Consumers showed increased optimism about better business conditions, incomes, and labor-market prospects.
  3. Inflation Expectations:
    • Expected inflation a year ahead fell to the lowest level since late 2020. This suggests that consumers may be more confident that inflationary pressures will ease in the coming months.
  4. Current Conditions:
    • A gauge of current conditions rebounded from the lowest reading in more than two years. This indicates an improvement in how consumers perceive the current state of the economy.
  5. Labor Market:
    • Labor-market sentiment improved from November. The share of consumers who said jobs were plentiful reached a five-month high.
    • The difference between those saying jobs are plentiful versus hard to get, a key metric for gauging labor-market strength, jumped by the most since early 2022.
  6. Consumer Spending and Economic Outlook:
    • Americans are becoming increasingly upbeat about economic prospects heading into 2024, driven by a firm labor market. Despite overall higher prices, savings and higher wages have enabled consumers to maintain spending.
  7. Expert Commentary:
    • Dana Peterson, chief economist at the Conference Board, mentioned that the increase in consumer confidence in December is attributed to more positive ratings of current business conditions and job availability, as well as less pessimistic views of business, labor market, and personal income prospects over the next six months.

Overall, the data suggests that consumers are feeling more optimistic about the economy, driven by positive views on the labor market and a more favorable outlook for business conditions. This optimism may contribute to continued consumer spending and economic growth.