(NEWSnet/AP) – American consumers are feeling more confident than they have in two years, according to a business research group's latest monthly data.

The Conference Board said Tuesday that its consumer confidence index rose for the third straight month, to 114.8 in January from 108 in December. January's reading came in just slightly higher than the 114 that analysts were expecting.

The index, which measures both Americans’ assessment of current economic conditions and their outlook for the next six months, is at its highest level since December of 2021.

Anxiety over the possibility of an economic recession in the next 12 months continued to fade for most Americans.

Consumer spending accounts for about 70% of U.S. economic activity, so economists pay close attention to consumer behavior as they take measure of the broader economy.

The index measuring Americans short-term expectations for income, business and the job market rose to 83.8 from 81.9 in December.

Consumers’ view of current conditions jumped to 161.3 from 147.2 the previous month.

Despite the uptick in confidence and strong holiday spending, consumers’ intent to purchase homes, autos and big-ticket items declined modestly.

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