The Conference Board's Consumer Confidence Index stands at 96.8 (1985=100) in January, up five points from 91.7 in December. The Expectations Index rose to 108.1 from 103.3 in December and the Present Situation Index increased to 80.0 in January from 74.3 the previous month. "Consumer confidence is now at its highest level since July 2002, when the Index registered 97.4," said Lynn Franco, director of the Conference Board's Consumer Research Center. "Growing optimism about the overall health of the economy continues to bolster consumers' short-term outlook. But consumers' assessment of current conditions, which strongly hinges on improvements in the labor market, remains both weak and volatile."
Consumers' assessment of present-day conditions was more favorable in January than in December, with those describing current business conditions as good increasing to 22.0 percent in January from 18.6 percent in December. Those claiming conditions had deteriorated declined to 22.8 percent in January from 24.5 percent. Consumers saying jobs are hard to get fell to 31.4 percent from 32.4 percent in December, while those claiming jobs are plentiful declined to 12.4 percent in January from 12.6 percent the previous month
Posted by gandlwoods at February 1, 2004 10:11 AM