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CB Consumer Confidence decreased to 111.8

Tuesday, Jan 31 2017
CB Consumer Confidence decreased to 111.8

The Consumer Confidence Index decreased to 111.8 in January after reaching a 15-year high in December, according to a monthly survey released on Tuesday. Economists expected the index to hit 113 in January, according to Thomson Reuters, down from 113.7 in the prior month.

"The decline in confidence was driven solely by a less optimistic outlook for business conditions, jobs, and especially consumers' income prospects. Consumers' assessment of current conditions, on the other hand, improved in January. Despite the retreat in confidence, consumers remain confident that the economy will continue to expand in the coming months," said Lynn Franco, Director of Economic Indicators at The Conference Board, in a release.

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