The US Consumer Confidence Index Rose For Fourth Consecutive Months In December.

The December consumer confidence report jointly released by University of Michigan and Thomson Reuters showed that consumer confidence in December rose for fourth consecutive months, higher than market expectations.

However, because the US Congress has not yet passed.

In December, the Michigan consumer confidence index ended at 69.9 points, more than 64.1 points in November.

The initial value of the December index is 67.7 points.

According to a survey by Thomson Reuters, economists expect the confidence index in December to be about 68.7 points.

Richard Curtin, head of consumer surveys at University of Michigan, warned that Congress did not pass Curtin.

Republicans and Democrats in Congress continue to oppose each other's tax cuts. The two sides are unable to agree on the extension of the payroll tax relief policy. It seems now that the tax rate of about 160 million working-class Americans will increase in January 1st next year.

Despite four consecutive months of rising, consumer confidence remains at a historic low.

In the same period last year, the index read 74.5.

The consumer confidence index covers consumers' assessments of personal finances, business and consumer environment.

In the year before the recession, the average value of the index was about 87 points.

Economists are very concerned about consumer confidence, because it can perceive the direction of consumer spending, and consumer spending accounts for 2/3 of the total U.S. economy.

In December, consumer status and expectations index rose.

The current index in December increased to 79.6, more than 77.6 in November.

Last December, the consumer status index was 85.3.

The index increased sharply from 55.4 in November to 63.6, a reading of 67.5 a year ago.