Pickup in Confidence Shows Americans Upbeat on Jobs, Economy

A four-month high in U.S. consumer confidence reflects Americans’ sunnier views on both their current situation and outlook, a positive sign for the economy, data from the New York-based Conference Board showed Tuesday.

With unemployment near a 16-year low and U.S. stocks reaching record highs, consumers remain upbeat, which should continue to support the household spending that accounts for about 70 percent of U.S. gross domestic product. Even so, the post-election surge in sentiment has yet to translate into a similar economic boost. Faster wage gains and improved prospects for fiscal stimulus could propel confidence further in coming months. The Conference Board’s data contrast with surveys from the University of Michigan and Bloomberg Consumer Comfort Index showing sentiment ebbing in recent weeks.