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US: UoM Consumer Confidence Index improves to 98.3 in December vs 97.5 expected

The University of Michigan's Consumer Sentiment Index rose to 98.3 in the final reading of the year from the previous estimate of 97.5 and surpassed the market estimate of 97.5. 

"Consumer confidence remained in December at the same record favorable levels as it has throughout the year. The Sentiment Index averaged 98.4 in 2018, the best year since 107.6 in 2000," the UoM's Surveys of Consumers chief economist, Richard Curtin said and added:

"While the plunge in stock prices has recently garnered the most attention in the national press, consumers have focused more on their concerns about income and job prospects. Consumers reported more negative than positive news about job prospects for the first time in two years, with the shift widespread across socioeconomic subgroups."

December (final) results

  • Index of Consumer Sentiment at 98.3 vs 97.5 in November.
  • Index of Current Economic Conditions at 116.1 vs 112.3 in November.
  • Index of Consumer Expectations at 87 vs 88.1 in November.

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