To read this full article you need to be subscribed to Newsline.Sign in Sign up for a FREE subscription
U.S. consumer confidence declined in January
The Conference Board Consumer Confidence Index® decreased in January following an upwardly revised increase in December 2022.
The index now stands at 107.1 (1985=100), down from 109.0 in December (an upward revision). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 150.9 (1985=100) from 147.4 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell to 77.8 (1985=100) from 83.4 partially reversing its December gain. The Expectations Index is below 80, which often signals a recession within the next year. Both present situation and expectations indexes were revised up slightly in December.
“Consumer confidence declined in January, but it remains above the level seen last July, lowest in 2022,” said Ataman Ozyildirim, senior director, economics at The Conference Board. “Consumer confi