Consumer confidence bounces back, ending year on high note

By MATT OTT
AP Business Writer

WASHINGTON (AP) — The American consumer’s confidence rebounded this month, even as the Fed continues to raise interest rates and many economists fear an oncoming recession. The Conference Board reported Wednesday that its consumer confidence index rose to 108.3 in December, up from 101.4 in November. This month’s number reflected a sharp rebound, pushing the index to its highest level since April. November’s figure was the lowest since July. The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — also rose, to 147.2 this month from 138.3 in November.