Consumer Confidence Index Increases Again in January
The Conference Board Consumer Confidence Index, which had rebounded in December, increased again in January. The Index now stands at 80.7 (1985=100), up from 77.5 in December. The Present Situation Index increased to 79.1 from 75.3. The Expectations Index increased to 81.8 from 79.0 last month.
Consumers’ assessment of overall present-day conditions continues to improve. Those claiming business conditions are “good” increased to 21.5% from 20.2%, while those claiming business conditions are “bad” edged down to 22.8% from 23.2%. Consumers’ appraisal of the labor market was also more positive. Those saying jobs are “plentiful” ticked up to 12.7% from 11.9%, while those saying jobs are “hard to get” decreased slightly to 32.6% from 32.9%.