U.S. consumers more upbeat in Jan.
NEW YORK – Jan. 26, 2016 – The Conference Board Consumer Confidence Index improved moderately in January following an increase in December.
The Index now stands at 98.1, up from 96.3 in December. The Present Situation Index was unchanged at 116.4, while the Expectations Index that gauges current consumer attitudes about the economy six months from now increased from 83.0 to 85.9 in January.
"Consumer confidence improved slightly in January, following an increase in December," says Lynn Franco, director of economic indicators at The Conference Board. "For now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy."
Consumers' outlook for the labor market's future was also slightly more optimistic. Those anticipating more jobs in the months ahead increased from 12.4 percent to 13.2 percent, while those anticipating fewer jobs decreased slightly from 16.8 percent to 16.5 percent.
The proportion of consumers who expect their incomes to increase improved from 16.3 percent to 18.1 percent. However, the proportion expecting a reduction in income increased from 9.5 percent to 10.8 percent.
The monthly Consumer Confidence Survey is based on a probability-design random sample conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was January 14.© 2016 Florida Realtors®