Assessments of personal finances were up for the fifth consecutive month in January.
by Jack Atzinger
Trade Only Today
Both of the country’s primary measurements of consumer sentiment in January showed that although Americans were more positive about their personal financial situations, they were pessimistic about the future of the job market and inflation, dragging the overall indexes down.
The Conference Board said its Consumer Confidence Index declined 5 points, to 104.1, from an upwardly revised 109.5 in December. “Consumer confidence has been moving sideways in a relatively stable, narrow range since 2022. January was no exception,” Dana M. Peterson, chief economist at The Conference Board, stated in a press release.
“All five components of the index deteriorated, but consumers’ assessments of the present situation experienced the largest decline,” Peterson added.