NEW YORK — Holiday spending surged this year, but Americans still have their doubts about the economy. With unemployment high and home prices falling in the nation’s largest cities, consumer confidence took an unexpected turn for the worse in December.
The decline followed two months of rising optimism. But there’s also a slew of data that suggest next year will be brighter: Layoffs are slowing, businesses are investing in computers and equipment, and the stock market has risen to its highest point in two years.
The Conference Board, a private research group, said its Consumer Confidence Index fell to 52.5 in December, down from a revised 54.3 in the November survey. It takes a reading of 90 to indicate a healthy economy. The Associated Press
