Consumer Confidence In Business Conditions Drops
The Consumer Confidence Index declined in January to 61.1, down 3.7 points from December. Current and future indexes for consumer confidence declined as well from December to January.
For current conditions, only 13.3% of respondents claimed business conditions as “good”, while “bad” responses were up 5.2% from the previous survey. The employment sector also seems negative as those saying jobs are "plentiful" dropped slightly while those claiming jobs are "hard to get" increased.
The percentage of consumers expecting improved business conditions in the next 6 months decreased while those expecting worse conditions increased. However, the future for jobs was slightly better as those expecting more jobs increased and vice versa for those expecting fewer jobs.
Lynn Franco, Director of The Conference Board Consumer Research Center, commented, "Consumer Confidence retreated in January, after large back-to-back gains in the final two months of 2011. Consumers' assessment of current business and labor market conditions turned more downbeat and is back to November 2011 levels.”
Source: The Conference Board