US Consumers in Confident Mood

According to a report from the University of Michigan, the US consumer sentiment index has improved in December 2016, Market Realist reported. It stood at 98.2 in December 2016 as compared to 93.8 in November. The reading came in above the preliminary estimate of 98. The improved figure indicates that consumers’ overall situation is improving. The increase in per capita income is a welcome sign for the economy. The labor market is also showing improved figures. An improvement in the labor market conditions could speed up consumer spending in the economy in the near future.