Consumer Confidence Up, But Below Average: RBC Report

The consumer is getting more optimistic, according to the RBC Consumer Outlook Index, just in time to spend some of that money for the holidays.

The Royal Bank of Canada reported consumer confidence rose 3.2 points from November at 45.2—the highest level since the recession began. Although the number is up, it’s still lower than the average, which is 50.

Also reported and compared with the average are consumers’ current feelings of confidence, at 35.6 versus the average of 43. However expectations for the future are nearly at the average—now at 56.1 versus 58.5.

In addition the report looked at confidence in investments, 40 versus 46.4, and job security at 51.8 opposed to an average of 54.

To determine thoughts on job security, RBC asked participants the questions: Have you or someone you know lost a job? And, Are you or someone you know worried about losing a job?

The percentage of respondents who answered yes to both questions fell between November and December.

RBC assesses US consumer views each month based on data collected from interviews with a nationally representative sample of more than 1,000 adults over several days.