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Confidence highest in years
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December 30, 1997: 10:36 a.m. ET
Conference Board finds consumer confidence highest since 1969
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NEW YORK (CNNfn) - December consumer confidence was at it highest level since 1969, according figures released by the Conference Board Tuesday.
The organization's index, which measures consumers' sentiments about their economic situation, rose to 134.5 in December, the highest figure in more than 28 years.
It was a gain of more than 6 points from a revised 128.1 figure in November.
Each month, the Conference Board surveys a representative sample of 5,000 households to gauge consumer sentiment. The results could be indicative since consumer spending makes up two-thirds of all economic activity in the United States.
Strong consumer confidence could be a worry for inflation-watchers, however, since upbeat consumers are more likely to buy and could push prices higher.
The Conference Board's Consumer Research Center Director, Lyn Franco, cited "the strength of the U.S. economy, especially of the labor market" as the reason for the higher figure.
The index has two components, one measuring consumers' feelings both about their present situation and another about their future. Both showed sharp gains in December.
The U.S. bond market was strong after the news, with the benchmark 30-year Treasury bond up 11/32, pushing the yield down to 5.94 percent. 
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Conference Board
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