US consumer confidence dampened in December, retreating from a 17-year high in November as optimism about the short-term outlook fell sharply, according to a closely-watched monthly survey released Wednesday.
While sentiment about current conditions were more positive than last month, consumers were more pessimistic about the situation for business and jobs six months out, the Conference Board reported.
The consumer confidence index fell to 122.1 from 128.6 in November, which was revised down from the originally reported 129.5, but still was the highest since 2000. The high confidence last month matched reports of solid sales in the holiday shopping season.
“The decline in confidence was fueled by a somewhat less optimistic outlook for business and job prospects in the coming months,” said Lynn Franco, head of indicators at the Conference Board, which produces the survey, in a statement.
However, Franco said, “Despite the decline in…