Consumer confidence index hits an unexpected high in December

The Consumer Confidence Index spiked to 113.7 in December, a high water mark not reached since August of 2001, surprising economists polled by Reuters who expected to see 109 for the month. "The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers," said Lynn Franco, director of economic indicators at The Conference Board, in a press release.