The Bloomberg Consumer Comfort Index also shows a 43.1 reading in the period ended Dec. 21, the highest level since October 2007, revealing American consumer confidence is at pre-financial downturn highs, Bloomberg reports.
The improved attitude toward the economy and buying climate could suggest that American consumers will continue to spend in the new year.
“It looks like consumers are in high gear heading into next year,” Sean Incremona, senior economist at 4Cast Inc., said in the Bloombeag article. “Better labor market conditions, better support for personal income, gas prices — we’re really seeing good momentum.”
Market Vectors Retail ETF
For more information on the consumer sector, visit our consumer discretionary category.
Max Chen contributed to this article.