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U.S. Consumer Confidence Rises 38% in January

Jan 29, 2014 3:20 PM   By Jeff Miller
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RAPAPORT... The Conference Board's U.S. Consumer Confidence Index® experienced a healthy increase in January, rising 22.1 points or 38 percent year on year to 80.7 points (1985=100).  Meanwhile, The Present Situation Index increased to 79.1 points from 57.3 points in January 2013 and The Expectations Index surged to 81.8 points from 59.5 points.

The percentage of consumers claiming that business conditions were “good” this month increased to 21.5 percent from 16.7 percent one year ago and those claiming business conditions were “bad” fell to 22.8 percent compared with 27.4 percent. The percentage of those saying jobs were “plentiful” rose to 12.7 percent from 8.6 percent, while those saying jobs are “hard to get” decreased to 32.6 percent from 37.7 percent.

“Consumer confidence advanced in January for the second consecutive month,” said Lynn Franco, the director of economic indicators at The Conference Board. “Consumers’ assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably. Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead.”

Tags: conference board, consumer confidence, january, Jeff Miller
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