Thursday, February 2, 2017

Consumer confidence backs off 15-year high

Consumer confidence slipped slightly in January after reaching a 15-year high in December, though outlook for the present overrode the outlook for the future.
“Consumer confidence decreased in January, after reaching a 15-year high in December (Aug. 2001, 114.0),” said Lynn Franco, director of Economic Indicators at The Conference Board. “The decline in confidence was driven solely by a less optimistic outlook for business conditions, jobs, and especially consumers’ income prospects. Consumers’ assessment of current conditions, on the other hand, improved in January. Despite the retreat in confidence, consumers remain confident that the economy will continue to expand in the coming months.”. . . more

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