U.S. consumer confidence, which decreased in November 2013, rebounded the following month, according to The Conference Board Consumer Confidence Index, which now stands at 78.1 (1985=100), up from 72 in November.
Despite a number of economic factors that have shaken consumer confidence lately, including the government shutdown and continued high unemployment rates, retailers and manufacturers believe holiday sales will rise slightly compared to last year, according to Capital Business Credit, a non-bank lender that services the retail sector.
Consumer confidence unexpectedly dropped in August from a six-year high as Americans faced rising interest rates, according to the University of Michigan/Thomson Reuters preliminary index of consumer sentiment.
Consumer confidence in July rose to the highest level in six years as Americans’ views of their finances and the economy improved, according to the the Thomson Reuters/University of Michigan index of consumer sentiment.
North American consumers opened their wallets in the first quarter of 2013 and exhibited a desire to spend again, although they remain cautious, according to the Nielsen Global Survey of Consumer Confidence and Spending Intentions.
Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.4%, down slightly from 4.2% in 2012 and 5.8% in 2011, according to the National Retail Federation’s 2013 economic forecast.