From Home Furnishing Business
Consumer Confidence Hits 7-Year High
Consumers are happy, and the latest consumer confidence statistics released Tuesday show the Conference Board’s index climbed to 102.9, the best reading since August 2007.
This week’s figure is up from 93.1 posted in December.
Consumers’ assessment of current and future conditions also climbed. The present situation index climbed to 112.6 from 99.9, and the expectations index increased from 96.4 from 88.5 last month.
“Consumer confidence rose sharply in January, and is now at its highest level since August 2007 (Index, 105.6),” said Lynn Franco, director of economic indicators at The Conference Board. “A more positive assessment of current business and labor market conditions contributed to the improvement in consumers’ view of the present situation. Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings.”
The complete report is available online.