Consumer confidence index hits an unexpected high in December
December 28, 2016
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.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.