Consumer Confidence Grows in January

The Conference Board has reported that following a modest advance in December, the Consumer Confidence Index increased to a reading of 131.6 in January. This represents the highest reading in five months. The January increase was fueled by a more positive outlook by consumers on the current job market and in anticipation of future job prospects. Lynn Franco, Senior Director, Economic Indicators, at The Conference Board said, “Optimism about the labor market should continue to support confidence in the short-term and, as a result, consumers will continue driving growth and prevent the economy from slowing in early 2020.”