United States: Consumer confidence surges to seven-year high at start of year
January 27, 2015
The Conference Board consumer confidence index jumped to 102.9 points in January from a revised 93.1 points in December (previously reported: 92.6 points). January’s reading far exceeded market expectations of a rise to 96.0 points. Moreover, the index reached the highest point since August 2007.
January’s increase in confidence was driven by a notable improvement in consumer’s assessments of current economic conditions. Consumer’s expectations regarding business conditions over the next six months and their outlook on the future of the job market were also much more optimistic in January compared to December.
Author: Carl Kelly, Economist