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"We're seeing decent job growth and an improvement in household balance sheets"
- Samuel Coffin, an economist at UBS Securities LLC
U.S. consumer confidence rose to highest level in six months in December as consumers became more optimistic on the outlook of the country's economy, according to the Thomson Reuters / University of Michigan research. An index of sentiment rose to 67.7 points this month from 64.1 in November.
"It's an improvement and the direction is right," said Samuel Coffin, an economist at UBS Securities LLC in Stamford, Connecticut. "We're seeing decent job growth and an improvement in household balance sheets. More hiring would spur it to strengthen more."
"Consumers have been slightly more upbeat in December as numerous economic data points have surprised to the upside, providing some relief," said Jim Baird, chief investment strategist at Plante Moran Financial Advisors in Kalamazoo, Michigan.