/ Source: The Associated Press
A new survey shows consumer confidence in the U.S. dipped in December, even after other reports suggest people increased their holiday spending at the biggest rate in four years.
The Conference Board, a private research group, says its Consumer Confidence Index fell to 52.5, down from a revised 54.3 in November. Economists were expecting 55.8. It takes a reading of 90 to indicate a healthy economy, a level not approached since the recession began in 2007.
Economists watch confidence closely because consumer spending accounts for about 70 percent of U.S. economic activity.
The index is based on a survey of 5,000 consumers with a cutoff date of Dec. 20.
