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January Consumer Confidence Climbs
Despite the roller coaster ride the stock market is taking investors on this year, consumer confidence this month climbed, according to The Conference Board.
Consumer confidence reached 98.1 in January up from 96.3 in December. The Present Situation Index was unchanged at 116.4, and the Expectations Index increased from 83 to 85.9 in January.
“Consumer confidence improved slightly in January, following an increase in December,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of current conditions held steady, while their expectations for the next six months improved moderately. For now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy.”