The Independent Market Observer

Economic Release Snapshot: Consumer Confidence Improves in December

Posted by Sam Millette

This entry was posted on Dec 27, 2022 8:27:39 AM

and tagged In the News

Leave a comment

Monday UpdateEach week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead. 

Reports for the Week of December 19

National Association of Home Builders Housing Market Index, December (Monday)

  • Expected/prior month sentiment: 34/33
  • Actual sentiment: 31

Home builder sentiment dropped more than expected in December, marking 12 consecutive months of declining home builder confidence.

Housing starts and building permits, November (Tuesday)

  • Expected/prior month housing starts monthly change: –1.8%/–2.1%
  • Actual housing starts monthly change: –0.5%
  • Expected/prior month building permits monthly change: –2.1%/–3.3%
  • Actual building permits monthly change: –11.2%

Both housing starts and building permits declined during the month, which was expected due to the slowdown in new home construction we’ve seen this year.

Existing home sales, November (Wednesday)

  • Expected/prior month existing home sales monthly change: –5.2%/–5.9%
  • Actual existing home sales monthly change: –7.7%

Existing home sales fell more than expected in November, marking 11 consecutive months of declining home sales due to high prices and mortgage rates.

Conference Board Consumer Confidence, December (Wednesday)

  • Expected/prior Consumer Confidence Index: 101.0/101.4
  • Actual Consumer Confidence Index: 108.3

Consumer confidence improved more than expected during the month, bringing the index to its highest level since April. Consumer views on both the present situation and future expectations warmed, which led to improvement in the overall index.

Personal spending and personal income, November (Friday)

  • Expected/prior personal income monthly change: +0.3%/+0.7%
  • Actual personal income change: +0.4%
  • Expected/prior personal spending monthly change: +0.2%/+0.9%
  • Actual personal spending change: +0.1%

Both personal income and spending increased in November, which was an encouraging signal that consumers remained willing and able to go out and spend.

Upcoming Reports for the Week of December 27

There are no major economic data releases scheduled for the holiday-shortened week. Thanks for reading, and have a Happy New Year!

Subscribe via Email

New call-to-action
Crash-Test Investing

Hot Topics

New Call-to-action



see all



The information on this website is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

The S&P 500 Index is a broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. All indices are unmanaged and investors cannot invest directly in an index.

The MSCI EAFE (Europe, Australia, Far East) Index is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of 21 developed market country indices.

One basis point (bp) is equal to 1/100th of 1 percent, or 0.01 percent.

The VIX (CBOE Volatility Index) measures the market’s expectation of 30-day volatility across a wide range of S&P 500 options.

The forward price-to-earnings (P/E) ratio divides the current share price of the index by its estimated future earnings.

Third-party links are provided to you as a courtesy. We make no representation as to the completeness or accuracy of information provided on these websites. Information on such sites, including third-party links contained within, should not be construed as an endorsement or adoption by Commonwealth of any kind. You should consult with a financial advisor regarding your specific situation.


Please review our Terms of Use

Commonwealth Financial Network®