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Consumer confidence rises again in January

January 28 2014

The Conference Board’s U.S. consumer confidence index increased again in January after rebounding in December. The index now stands at a reading of 80.7 (1985=100), up from 77.5 in December.

“Consumer confidence advanced in January for the second consecutive month,” said Lynn Franco, director of economic indicators at The Conference Board.

 “Consumers’ assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably,” Franco said. “Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead.”

The number of consumers anticipating more jobs in the months ahead decreased to 15.4 percent in January from 17.1 percent in December, according to the index’s survey. However, those expecting fewer jobs decreased to 18.3 percent from 19.4 percent. And those saying jobs are “plentiful” ticked up to 12.7 percent from 11.9 percent, while those saying jobs are “hard-to-get” edged down to 32.6 percent from 32.9 percent.

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