NEW YORK (AP) -- A monthly survey shows consumers' confidence in
the economy in December surged to the highest level since April and
is near a post-recession peak.
The New York-based Conference Board says Tuesday that its
Consumer Confidence Index rose almost 10 points to 64.5, up from a
revised 55.2 in November. Analysts had expected 59.
The surge builds on another big increase in November, when the
index rose almost 15 points from the month before.
Improving confidence is in line with retail reports of a decent
holiday shopping season. Still, the December confidence reading is
below the 90 level that indicates an economy on solid footing.
Economists watch the confidence numbers closely because consumer
spending -- including items like health care -- accounts for about 70
percent of U.S. economic activity.
(Copyright 2011 by The Associated Press. All Rights Reserved.)