Consumer Confidence Index Decreases Slightly in January
The Conference Board Consumer Confidence Index, which had increased in December, retreated in January. The index now stands at 61.1 (1985=100), down from 64.8 in December. The Present Situation Index declined to 38.4 from 46.5. The Expectations Index edged down to 76.2 from 77.0 in December.
Consumers’ appraisal of current conditions was less favorable in January. Those claiming business conditions are “good” decreased to 13.3% from 16.3%, while those stating business conditions are “bad” increased to 38.7% from 33.5%. Consumers’ assessment of the labor market was also less positive. Those saying jobs are “plentiful” decreased to 6.1% from 6.6%, while those claiming jobs are “hard to get” increased to 43.5% from 41.6%.