The Conference Board's Consumer Confidence Index fell in January, driven by anxieties about the labor market. Despite strong current economic conditions, consumers are pessimistic about the future, particularly regarding job security and potential unemployment. While the index remains above pre-pandemic levels, the decline indicates a shift in sentiment. The Conference Board found that inflation expectations are also ticking up.
The Conference Board published itsThe index fell over five points from December, which itself fell several points from November.
The index, which got as high as 137.9 in the last decade, got as low as around 86 early in the pandemic.The Conference Board Senior Economist Stephanie Guichard said that’s mostly good.And Americans have proven they’re willing to spend at this level of consumer confidence.So, why did consumer optimism decline this month?
Small business owners have been feeling pretty good since Donald Trump and congressional Republicans won big on Election Day. And Wade said small business owners expect a “lessening the regulatory threat that they've endured.”
CONSUMERCONFIDENCE LABOR MARKET ECONOMY INFLATION SURVEY
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