Consumer confidence improved in the USA

Consumer sentiment in the US improved more than expected in December, according to preliminary figures released on Friday, as Americans reckoned President-elect Donald Trump’s policies would boost economic growth.

The University of Michigan’s preliminary index of consumer sentiment rose to 98 from 93.8 last month and 92.6 in December last year, beating expectations for a reading of 94.5.

The current economic conditions index pushed up to 112.1 from 107.3 in November and 108.1 in December 2015.

Meanwhile, the index of consumer expectations increased to 88.9 from 85.2 last month and 82.7 in December last year. (MTI)