US Consumer Confidence Falls in January

The Consumer Confidence Index decreased to 111.8 in January after reaching a 15-year high in December, according to a monthly survey released on Tuesday.

Economists expected the index to hit 113 in January, according to Thomson Reuters, down from 113.7 in the prior month.

“The decline in confidence was driven solely by a less optimistic outlook for business conditions, jobs, and especially consumers’ income prospects. Consumers’ assessment of current conditions, on the other hand, improved in January. Despite the retreat in confidence, consumers remain confident that the economy will continue to expand in the coming months,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
Those saying business conditions are good increased from 28.6 percent to 29.3 percent, while those saying conditions were bad decreased from 17.8 percent to 16.1 percent. However, consumers’ short-term outlook, which saw a big increase in December, has declined, from 24.7 percent to 23.1 percent. Those expecting conditions to worsen increased from 8.9 percent to 10.7 percent.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza