U.S. Consumer Confidence Rises To 16-Month High; Americans still cautious about near-term...

[Purveyor]

By Rex Nutting, MarketWatch

WASHINGTON (MarketWatch) - A little more optimism about the current economic climate sent the U.S. consumer confidence index to a 16-month high in January, according to a survey released Tuesday by the Conference Board.

The consumer confidence index rose to 55.9 in January from an upwardly revised 53.6 in December. It's the highest reading since September 2008, when the financial crisis intensified. It was the third straight increase.

The index came in better than expected by economists surveyed by MarketWatch, who were looking for an increase to 53.5 from the previously reported December level of 52.9. Read our complete economic calendar and consensus forecast.

Still, consumer confidence remains very weak, far below the average level of 95. The index has been in a narrow range between 46 and 56 since May. It bottomed at a record-low 25.3 last February. Read the full report on the Conference Board website.

The improvement in January was due mainly to better feelings about the present situation. Consumer expectations also improved. Assessments of the labor market improved marginally.

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http://www.marketwatch.com/story/us-consumer-confidence-rises-to-16-month-high-2010-01-26-10000?reflink=MW_news_stmp

[Winterblues]

1. During the Clinton years it pretty much stayed above 140

During both Bush1 and Bush* it stayed well below 100. We will see what happens in the next year but at least it is rising for a change.

[hayu_lol]

2. We are still losing about a half million jobs a month...

thousands are working part time(less than 20 hours a week)and there is no end in sight for either situation. Claims that consumer confidence is rising are bunk. These unidentified boards that make such specious claims should be tarred, feathered, and ridden out of town on a triangular rail.

Smoke and mirrors to keep the 'great unwashed' overwhelmed with happiness is what this is.