US Consumer Confidence Rises

Posted December 27th, 2011 at 11:35 am (UTC-5)
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U.S. consumer confidence hit its highest level in eight months in December, perhaps due to an improving job market.

Tuesday's data comes from the Conference Board, a private research group in New York.

Experts watch consumer confidence for clues about the consumer spending that drives most U.S. economic activity.

A separate report Tuesday shows the U.S. home prices fell in most major cities for the second straight month.

Weak job growth, tighter lending standards, and worries that home prices may fall further are deterring some prospective home buyers. The U.S. central bank has had only limited success in boosting home sales with record low interest rates.