Consumer confidence extends rise in December - KWWL - Eastern Iowa Breaking News, Weather, Closings

Consumer confidence extends rise in December

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NEW YORK (KWWL) - A monthly survey says consumers' confidence in the economy rose again in December. The rise was fueled by a long-term outlook on jobs that reached its highest level in two years.

The New York-based Conference Board says its Consumer Confidence Index rose to 52.9, up from a revised 50.6 in November. Economists surveyed by Thomson Reuters predicted a reading of 52.

The reading is still far short of the 90 that would signify a solid economy.

Economists watch consumer sentiment because spending on goods and services for consumers accounts for about 70 percent of U.S. economic activity.

The survey of 5,000 ran Dec. 1 through 21.

Online News Director Nate Leding

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