Consumer confidence rose to the highest level in more than 15 years amid a strong economy and optimism for the new year. The Conference Board Consumer Confidence Index rose to a reading of 113.7 in December frmo 109.4 a month earlier, the independent researcher said in a report on Tuesday. The firm’s expectations index increased “sharply” to a 105.5 reading from 94.4 a month earlier, the highest in 13 years.
The surge in optimism was attributed by the Conference Board to strong economic growth in 2016 and the election of Donald Trump to the White House. Many investors believe stock prices, already at records, will continue to improve as the new administration deregulates several industries and attempts to implement an infrastructure spending package.
“Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized,” the board said.