Consumer confidence uptick
Published December 27, 2007 by CSBJ Staff
Despite a jittery economy, consumers showed renewed confidence this month.
The New York-based Conference Board’s Consumer Confidence Index rose to 88.6 for the month, up from a revised 87.8 during November – the first increase since July.
Confidence levels are considered important because they indicate possible changes in spending patterns, and consumer spending contributes nearly about two-thirds of the U.S. economy.
The news comes as many retailers reported mediocre Christmas traffic.
The International Council of Shopping Centers said this week that same-store sales figures are registering below already slim projections for a 2.5 percent gain.
Filed under CSBJ Daily, Economics, Retail