Consumer Confidence Hits Highest Level Since Katrina

(CNSNews.com) - With gas prices declining and job opportunities increasing, consumer confidence advanced in December to its highest level since Hurricane Katrina struck the Gulf Coast four months ago. The Consumer Confidence Index jumped to 103.6 in a report released Wednesday by the Conference Board that noted in August, before the storm, the index stood at 105.5. Lynn Franco, director of the Conference Board's Consumer Research Center, said in a statement that "consumer confidence continues to bounce back" from the beating it took when the hurricane hit on Aug. 29. "The resiliency of the economy, recent declines in prices at the pump and job growth have consumers feeling more confident at year-end than they felt at the start of 2005," Franco said. "Consumers are confident that the economy will continue to expand in 2006."