Consumer Pricing

Signs advertise deals and low prices at a Walmart in Secaucus, N.J., Tuesday, Nov. 22. (AP Photo/Seth Wenig, File)

The confidence of American consumers rebounded this month to end the year on a high note despite rising interest rates that have made credit cards and mortgages more expensive, and growing anxiety about a possible recession, according to an Associated Press report.

The Conference Board reported Wednesday (Dec. 21) that its consumer confidence index rose to 108.3 in December, up from 101.4 in November. It’s a sharp rebound, pushing the index to its highest level since April. Last month’s figure was the lowest since July.

The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — also rose, to 147.2 this month from 138.3 in November.

The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — rose to 82.4 from 76.7. Readings near or below 80 are associated with recession.

Read the full Associated Press report.