Consumer Confidence in U.S. Increases to a Three-Month High
Source: Bloomberg
January 26, 2016 — 10:00 AM EST
Updated on January 26, 2016 — 11:34 AM EST
Consumer confidence improved in January to a three-month high as Americans grew more upbeat about the prospects for the economy, labor market and their incomes.
The Conference Board’s index of sentiment advanced to 98.1 in January from a revised 96.3 a month earlier, the New York-based private research group said Tuesday. The median forecast of economists in a Bloomberg survey called for the measure to hold at the previously reported December reading of 96.5.
While a plunge in stock prices may have tempered views about current conditions, a resilient labor market, falling gas prices and low inflation overall are buoying views of the economic outlook. The pickup in sentiment extended to buying plans as a greater share of households said they intend to buy cars and appliances.
“All of the improvement was in expectations, which many people believe are a driver of big-ticket purchases," said Scott Brown, chief economist at Raymond James Financial Inc. in St. Petersburg, Florida. "You are looking at a better business outlook, a better outlook for household income. It was mostly positive across regions too, so it’s fairly broad-based."
Read more: http://www.bloomberg.com/news/articles/2016-01-26/consumer-confidence-index-in-u-s-rose-to-98-1-in-january
= new reply since forum marked as read
