Consumer confidence surges in December

Consumer confidence climbed in December to a post-recession high, according to the Conference Board's monthly report published on Tuesday.

The firm's expectations index increased "sharply" to a 105.5 reading from 94.4 a month earlier, the highest in 13 years.

The December reading from the University of MI showed that measure improved to 98.2 in December, the best since August 2001.

Franco added that consumer confidence in 2017 will hinge on whether expectations of economic growth and policy are met. And while the majority of consumers were surveyed before the presidential election, it appears from the small sample of post-election responses that consumers' optimism was not impacted by the outcome.

Consumers' assessment of current conditions declined in December.

The monthly jump was exclusively due to an increase in survey respondents' expectations for business, income and employment in the coming six months, the board said in a statement.

The short-term outlook was much rosier.

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