Consumer Confidence Reaches Eight-Month High

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.S. consumer confidence rose to an eight-month high in December, the New York-based Conference Board reported Thursday.

The rise to a 109 reading topped economists’ forecasts of a decline to 102 from last month’s 105.3 reading, Bloomberg reported.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.