By Ovunc Kutlu
ANKARA (AA) - US consumer confidence increased in December, rebounding from its lowest level in nine months in November, according to data released by The Conference Board on Wednesday.
The Consumer Confidence Index that predicts consumer spending and economic activity, rose 3.9 points to 115.8.
The November figure, which was the lowest since February, was revised up to 111.9 from 109.5.
The market consensus for the index was 110.8.
"Concerns about inflation declined after hitting a 13-year high last month as did concerns about COVID-19, despite reports of continued price increases and the emergence of the Omicron variant," Lynn Franco, Senior Director of Economic Indicators at The Conference Board, said in a statement.
"Looking ahead to 2022, both confidence and consumer spending will continue to face headwinds from rising prices and an expected winter surge of the pandemic," added Franco.
The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, fell to 144.1 in December, down from 144.4 during the previous month.
The Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, increased to 96.9 from 90.2, according to the report.