US consumer confidence rises in December

WASHINGTON (AP) — Impressed with an improving economy, American consumers are feeling more confident, a private survey showed.

The Conference Board said today its consumer confidence index climbed to 92.6 this month from a revised 91 in November.

Consumers registered a more favorable view of current economic conditions; 17.1 percent said jobs were plentiful, up from 16.2 percent in November. Just 19.6 percent said business conditions were bad, down from 21.8 percent last month.

Expectations for the near future fell slightly. Compared to November, fewer consumers in December said they planned to buy a home or a car in the next six months. But 52.2 percent said they planned to buy a major appliance, the highest share since 2010, noted Laura Rosner, an economist at BNP Paribas. She predicts "continued strength in consumer spending." And their outlook is rosier now than it was when 2014 began.

Consumers have plenty of reasons to feel better. The economy grew from July through September at a 5 percent annual rate, fastest clip in 11 years.