Important barometer of the trend in the evolution of the economy, consumer confidence remains thin and its monthly variations, up or down, have one constant since many months : a lack of confidence, notably in North America. The Conference Board signals today that consumer confidence in the United States is going down in December. On December 23, the University of Michigan informed us that its index of consumer sentiment is improving this month. Down or up, US consumer confidence is well under the comfort zone which would allow private consumption to sustain a healthy economic growth. But, wait! Things might not be as gloomy as these poll results suggest : according to preliminary reports, retail sales in December seem strong, maybe the best December sales since 2005, and tax breaks for 2011 might help a reluctant consumer to shop and spend more through the year.
In Canada, consumer confidence follows a similar trend as in the US. According to data published December 21 by the Conference Board of Canada, it decreased in December compared to November, and it was at the same level as in December 2009.
In the euro zone, consumers are not as morose as in North America, but, after increasing for six months in a row, consumer confidence diminished in December according to data collected for the European Commission and published on December 20; it was the same pattern for the European Union as a whole.
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