Consumer confidence in the United States deteriorated in December, the Conference Board (CB) revealed in its report released on Monday. The Consumer Confidence Index landed at 104.7, dropping from November's 111.7 and significantly failing market expectations.

The Present Situation Index improved somewhat, rising from 140.9 in November to 145.2 in December. However, the Expectations Index plunged, going from 92.3 to 81.1.

"The recent rebound in consumer confidence was not sustained in December as the Index dropped back to the middle of the range that has prevailed over the past two years," CB Chief Economist Dana M. Peterson said. "Compared to last month, consumers in December were substantially less optimistic about future business conditions and incomes. Moreover, pessimism about future employment prospects returned after cautious optimism prevailed in October and November."