The Conference Board Consumer Confidence Index, which had increased in December, rose sharply in January. The index now stands at 102.9 (1985=100), up from 93.1 in December. The Present Situation Index rose to 112.6 from 99.9, while the Expectations Index increased to 96.4 from 88.5 in December.
Consumers’ assessment of present-day conditions was considerably more favorable in January than in December. Those saying business conditions are “good” increased from 24.7% to 28.1% while those claiming business conditions are “bad” decreased from 18.9% to 16.8%.