Economic Report: Consumer confidence hits highest level since 2001

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Consumer confidence hit the highest level in December since 2001. Trump effect?

WASHINGTON (MarketWatch) — Consumer confidence surged in December to the highest level since 2001, reflecting an improved U.S. economy and anticipation of the incoming Trump administration, especially among older Americans.

The consumer confidence index jumped to 113.7 from a revised 109.4 in November, the Conference Board said Tuesday.

U.S. stock markets SPX, +0.22% have rallied sharply to record levels since the surprise election of Donald Trump in November on the assumption that his administration will be good for business. The economy continues to improve, with the unemployment tumbling below 5%.

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