Markets
U.S Consumer Confidence Surged to 113.7 in December
- U.S Consumer Confidence Surged to 113.7 in December
The U.S. consumer confidence index surged more than forecast in the last month of the year as businesses and investors are confident that the incoming administration will boost production and aid businesses across the United States of America.
The index jumped from a revised 109.4 recorded in November to 113.7 in December. Beating experts forecast of 109 for the month.
The gauge climbed to its highest level in almost 6 years, according to the New York-based Conference Board report released on Tuesday.
Also, the dollar gauge and equity continued to rise simultaneously ahead of the Trump administration as against the inversely movement of both. This further affirmed general expectation of businesses and investors that tax cut and massive job creation proposed by the president-elect, Trump, will stimulate the economy and speed up the pace of growth.