By Ruth Mantell
WASHINGTON (MarketWatch) -- An index of U.S. consumer confidence declined to 52.5 in December on concerns about jobs in the present and future, the Conference Board reported Tuesday. Economists polled by MarketWatch had expected confidence to rise to 56.9. "Consumers' assessment of the current state of the economy and labor market remains tepid, and their outlook remains cautious," said Lynn Franco, director of Conference Board's consumer research center, in a statement. However, she added that signs suggest a continuation next year of the economy's expansion, "but that the pace of growth will remain moderate." Confidence for November was revised higher to 54.3 from a prior estimate of 54.1. A barometer of consumers' expectations fell to 71.9 in December from 73.6 in November, while consumers' assessment of the present situation decreased to 23.5 from 25.4. The Conference Board's index helps analysts compare fluctuations in confidence, with a reading of 100 for the base year of 1985. Generally when the economy is growing at a good clip, confidence readings are at 90 and above.
