The economic news has been getting better, especially regarding the price of oil. Which the consumer sees as what he forks over at the pump. And that, as we all know, is one price the trend of which we follow every day.
So as the sign at the corner convenience store or interstate exit shows a smaller and smaller number, consumer confidence reacts inversely. And, as Bloomberg reports:
The Conference Board’s index increased to 92.6 from
a revised 91 in November that was stronger than initially estimated, the New York-based private research group said today. A measure of current conditions advanced to the highest in almost seven years.
This comes along with:
The strongest job growth since 1999 and record stock prices [which] are also fueling optimism and providing a base for further spending gains that will help propel the economy.
Strange how this has happened even as Washington has been unable to “get anything done.”