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- U.S. consumer confidence improves slightly more than forecast in January
U.S. consumer confidence improves slightly more than forecast in January
The Conference
Board announced on Tuesday its U.S. consumer confidence rose 2.2 points to 89.3
in January 2021 from 87.1 in December 2020.
Economists had
expected consumer confidence to come in at 89.0.
December’s
consumer confidence reading was revised down from originally estimated 88.6.
The survey
showed that the expectations index rose from 87.0 last month to 92.5 this
month. Meanwhile, the present situation index fell from 87.2 in December to 84.4.
“Consumers’
appraisal of present-day conditions weakened further in January, with COVID-19
still the major suppressor,” noted Lynn Franco, Senior Director of Economic
Indicators at The Conference Board. “Consumers’ expectations for the economy
and jobs, however, advanced further, suggesting that consumers foresee
conditions improving in the not-too-distant future. In addition, the percent of
consumers who said they intend to purchase a home in the next six months
improved, suggesting that the pace of home sales should remain robust in early
2021.”
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