Bruised by increasing uneasiness about the jobs market, consumer confidence slipped in December, according to a report released by global business researcher, The Conference Board.
The Conference Board report said that the index of consumer attitudes fell to 52.5 in December, from 54.3 the prior month.
The association's consumer confidence survey is based on a sample of 5,000 U.S. households.
Consumers' appraisal of present-day conditions was slightly more pessimistic than in November.
The percentage of consumers claiming business conditions are "bad" decreased to 41.2 percent from 42.9 percent, however, those claiming business conditions are "good" declined to 7.5 percent from 8.5 percent. Consumers' assessment of the labor market was less favorable than last month. Those saying jobs are "plentiful" decreased to 3.9 percent from 4.3 percent, while those stating jobs are "hard to get" edged up to 46.8 percent from 46.3 percent.
"Despite this month's modest decline, consumer confidence is no worse off today than it was a year ago. Consumers' assessment of the current state of the economy and labor market remains tepid, and their outlook remains cautious. Thus, all signs continue to suggest that the economic expansion will continue well into 2011, but that the pace of growth will remain moderate," said " Lynn Franco, Director of the Consumer Research Center at The Conference Board.
The next release is scheduled for January 25.
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