NEW YORK — Americans are gaining faith that the economy is on the upswing.
An improving job outlook helped the Consumer Confidence Index soar close to a post-recession peak, according to a monthly survey by The Conference Board.
The second straight monthly surge coincided with a decent holiday shopping season for retailers, though stores had to heavily discount to attract shoppers.
The rise in confidence jibes with a better outlook for the overall economy. But confidence is still far below where it is in a healthy economy. And Americans’ mood could sour again if the debt crisis in Europe deepens and spreads to the U.S.
“This is encouraging. It’s good to be talking about improvement,” said Mark Vitner, an economist at Wells Fargo. “But there is still a lot of room for trouble.”
The Conference Board, a private research group, said Tuesday that its index rose almost 10 points to 64.5 in December, up from a revised 55.2 in November. Analysts had expected 59. The level is close to the post-recession high of 72, reached in February. The December surge builds on a big increase in November, when the index rose almost 15 points.
