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U.S. consumer confidence remains near 17-year high

Americans are ending 2017 feeling very good about the economy.Consumer confidence hit 122.1 in December, sligh...

Posted: Dec 28, 2017 5:27 AM
Updated: Dec 28, 2017 5:27 AM

Americans are ending 2017 feeling very good about the economy.

Consumer confidence hit 122.1 in December, slightly below the 17-year high set in November, 128.6, according to the Conference Board's index released Wednesday.

"Despite the decline in confidence, consumers' expectations remain at historically strong levels, suggesting economic growth will continue well into 2018," Lynn Franco, director of economic indicators at the Conference Board, said in a statement.

Confidence has been fueled by a few factors: The job market, the stock market rally and Republicans' fiscal reforms.

The U.S. job market is very strong. Unemployment in America is at 4.1%, the lowest level since 2000. Job openings are abundant too. The U.S. economy has gained jobs for 86 consecutive months, the longest streak in history, according to Labor Department figures going back to 1939. Balanced growth in the global economy has supported some U.S. hiring in 2017.

Related: Tax cuts might create jobs. But where are the workers?

The stock market's surge has also been another reflection of consumer confidence. The Dow is just below 25,000 points. It ended 2016 just below 20,000 points.

President Trump and the Republicans' promise -- and passage -- of tax cuts fueled consumer optimism as well.

Consumers plan to make big-ticket purchases in the next six months. The share of Americans planning to buy refrigerators and washing machines (9.2%) reached its highest point since at least 1978, according to the Conference Board's December survey.

Over 60% of Americans surveyed by the Conference Board in December said they intend to take a vacation in the next six months, a sign of optimism. That level is just below October's figure of 63.5%, which was the highest since at least 1978.

The Conference Board said December's small decline from November was attributed to Americans feeling slightly less optimistic about future job prospects.

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 68293

Reported Deaths: 1944
CountyConfirmedDeaths
Hinds5656118
DeSoto368031
Harrison253036
Madison244368
Rankin229235
Jackson228843
Jones191659
Forrest182056
Washington168942
Lee147941
Lauderdale141192
Neshoba128692
Lamar122614
Oktibbeha112739
Bolivar111834
Warren109533
Lowndes108538
Panola106214
Sunflower105425
Scott100320
Lafayette98317
Copiah95728
Leflore94765
Pike93836
Holmes90049
Grenada84921
Yazoo83312
Lincoln83241
Pontotoc8308
Simpson80330
Monroe80155
Leake79025
Wayne77421
Coahoma77213
Tate73629
Marshall7019
Marion68420
Union64316
Adams62925
Winston62316
Covington62113
George5895
Pearl River55439
Newton54311
Tallahatchie53011
Attala52325
Walthall50120
Chickasaw47019
Noxubee45912
Alcorn4345
Tishomingo4216
Calhoun4209
Prentiss41710
Claiborne40913
Smith40613
Clay39714
Hancock39514
Jasper3889
Itawamba37510
Tippah36713
Tunica3517
Clarke32626
Montgomery3265
Lawrence3228
Yalobusha31510
Humphreys29411
Quitman2701
Carroll26111
Greene25512
Perry2437
Amite2356
Webster23512
Kemper23414
Jefferson Davis2336
Wilkinson21113
Stone2055
Sharkey1995
Jefferson1957
Benton1431
Choctaw1354
Franklin1312
Issaquena262
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 99926

Reported Deaths: 1781
CountyConfirmedDeaths
Jefferson13258244
Mobile10517207
Montgomery6835149
Madison544734
Tuscaloosa423076
Baldwin365125
Unassigned363064
Shelby330936
Marshall318937
Lee270047
Morgan241118
Etowah216232
DeKalb183013
Calhoun180717
Elmore173138
Walker153964
Houston141912
Russell13872
St. Clair135418
Limestone134913
Dallas133123
Franklin128820
Cullman122712
Colbert120716
Lauderdale118919
Autauga117421
Escambia108717
Talladega104814
Jackson10144
Tallapoosa86579
Chambers84438
Dale83525
Clarke82610
Blount8124
Chilton8097
Butler76736
Coffee7646
Covington73720
Pike7087
Marion58026
Barbour5765
Lowndes57324
Marengo56515
Hale47826
Bullock46611
Winston45711
Perry4454
Washington44312
Bibb4425
Wilcox43210
Monroe4215
Pickens4049
Randolph40310
Conecuh39310
Sumter36418
Lawrence3512
Macon33914
Crenshaw3265
Choctaw28712
Cherokee2758
Henry2643
Clay2635
Geneva2631
Greene25211
Lamar2292
Fayette2125
Cleburne1271
Coosa1033
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