Consumer confidence extends rise in December

A monthly survey says consumers’ confidence in the economy rose again in December. The rise was fueled by a long-term outlook on jobs that reached its highest level in two years. The New York-based Conference Board says its Consumer Confidence Index rose to 52.9, up from a revised 50.6 in November. Economists surveyed by Thomson Reuters predicted a reading of 52. The reading is still far short of the 90 that would signify a solid economy. Economists watch consumer sentiment because spending on goods and services for consumers accounts for a major portion of U.S. economic activity.