United States: U.S. consumer confidence moderates in January, reflecting concerns about the outlook
January 31, 2017
After climbing to a 15-year high of 113.3 in December, the Conference Board’s consumer confidence index fell to 111.8 in January, undershooting the markets’ expectations of a shallower drop to 112.8.
According to the Conference Boards, January’s decline was solely the result of consumers’ less optimistic outlook for business conditions, jobs and especially their income prospects. Conversely, consumers’ assessment of current economic conditions improved in January. However, despite January’s fall, U.S. households remain confident that the economy will continue to expand in the coming months.
The Conference Board survey period concluded on 19 January, one day before Donald Trump’s inauguration.
Author: Ricardo Aceves, Senior Economist