Consumer Confidence Well Short of Expectations in January
January 31, 2012Sign Up to Receive an Email Alert when Flash Headlines are Published
Economic Update: Consumer Confidence
The Conference Board’s Consumer Confidence Index disappoints in January.
The index was reported at 61.1, which was well below the consensus expectation for a reading of 67.7 and the revised December reading of 64.8.
Last 12 Months Readings for comparison:
- December: 64.8
- November: 55.2
- October: 40.9
- September: 46.4
- August: 45.2
- July: 59.2
- June: 57.6
- May: 60.8
- April 66.0
- March: 63.8
- February: 70.4
- January 2011: 64.8
Lynn Franco, Director of the Consumer Research Center at The Conference Board said: "Consumer Confidence retreated in January, after large back-to-back gains in the final two months of 2011. 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."
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS.
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