The Conference Board’s Consumer Confidence Index retreated in January following an increase in December. The index now stands at 61.1 (1985=100), down from 64.8 in December.

“Consumer Confidence retreated in January, after large back-to-back gains in the final two months of 2011,” said Lynn Franco, director of The Conference Board Consumer Research Center. “Consumers’ assessment of current business and labor market conditions turned more downbeat and is back to November 2011 levels. Regarding the short-term outlook, consumers are more upbeat about employment, but less optimistic about business conditions and their income prospects. Recent increases in gasoline prices may have consumers feeling a little less confident this month." 

According to the index’s survey, consumers claiming jobs are “plentiful” fell to 6.1 percent in January from 6.6 percent in the previous month. The percentage of consumers saying jobs are “hard to get” rose to 43.5 percent in January from 41.6 percent in December.