28 Dec 2011

US consumer confidence at 8-month high

10:09 am on 28 December 2011

Consumer confidence in the United States rose more than expected in December, hitting an eight-month high.

Industry group the Conference Board says its index of consumer sentiment increased to 64.5 from a downwardly revised 55.2 in November.

Economists had expected a reading of 58.3, but Americans are growing more upbeat about the labour market and their financial situation.

The US unemployment rate fell to a two-and-a-half year low last month.

Applications for first time jobless benefits were the lowest since April 2008.