Nielsen: U.S. consumer confidence on the rise

New York - With gas prices down 31% since June 2014 and oil prices tumbling to their lowest levels in several years, American consumer confidence has improved dramatically. According to the Nielsen Consumer Confidence Report, in fourth quarter 2014 U.S. consumer confidence went up 12 percentage points year-over-year.



Americans are feeling good again about their personal finances (up six percentage points) and immediate spending intentions (up eight percentage points). The percentage of Americans who felt it was a good time to spend also increased, by nine percentage points. U.S. shopping trips rebounded in November and December, increasing from 13 trips/month in June to 15 trips/month in December.



Americans also have more money to spend on each of these shopping trips as a result of cheaper fuel, spending at least a $1 more a trip. Four-in-10 (39%) of respondents said they have more money to spend due to declining gas prices and are putting this money toward paying their bills (50%), everyday essentials like food (36%) and discretionary items like home entertainment (30%) and clothing (30%).



“Consumers appear more upbeat than other regions going into 2015,” said Louise Keely, senior VP, Nielsen. “Declining unemployment, falling oil prices and continued low interest rates place consumers in the world’s largest economy in a better position to spend than in recent years.”