(The Conference Board) The US Consumer Confidence Index hit 113.8 in January, down from 115.2 in December, a downturn after three straight months of gains.
Consumers’ assessments the current labor market and business conditions improved, with the Present Situation Index at 148.2, from 144.8 in December.
Consumers remained less upbeat about the short-term outlook, with the Expectations Index declining from 95.4 in December to 90.8 in January.
The fall in consumer confidence happens amid a decline in inflation concerns which eased for the second consecutive month from the 13-year high in November.
Concerns regarding the pandemic and the ongoing rise in the Omicron variant rose slightly and are expected to be headwinds going forward, together with increasing prices.
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