The consumer confidence index rose from 71.8 in November to 74.0 in December, higher than analysts' expectations of 73.0
The Zhitong Finance App learned that on December 6, 2024, the University of Michigan released the December Consumer Confidence Report. The data showed that the consumer confidence index rose from 71.8 in November to 74.0 in December, higher than analysts' expectations of 73.0.
Specifically, the current economic situation index rose sharply from 63.9 in November to 77.7 in December, while the consumer expectations index fell from 76.9 to 71.6.
Furthermore, the one-year inflation forecast rose from 2.6% in November to 2.9% in December, a six-month high; the long-term inflation forecast fell slightly from 3.2% to 3.1%.
The University of Michigan commented in the report: “Improved purchasing conditions for durable goods have surged the current economic condition index by more than 20%. However, this increase is not a reflection of economic strength, but is mainly due to consumers believing that buying durable goods now can avoid future price increases.”
After the report was released, the US dollar index rose and tested the day's high. Currently, it is trying to stabilize above 106.00. In the gold market, despite some pressure from the strong US dollar, the gold price closed close to the level of 2,635 US dollars, supported by declining US bond yields. Stock market performance was also boosted. The S&P 500 index tested the 6,100 point mark. Investors were optimistic, driving the market to continue to rise.