The AP is reporting that consumer confidence fell in January.
Consumer confidence fell sharply in January on worries over deteriorating business conditions and a weakening job market, a business research group said Tuesday.
The New York-based Conference Board said that its Consumer Confidence Index dropped to 87.9 in January from a revised 90.6 in December. That put it back to about where it was in November, when it registered 87.8.
The January reading was just a tad below the 88 expected by Wall Street analysts, according to Thomson/IFR.
The index, which measures how consumers feel now about the economy, has been weakening since July, suggesting that wary consumers could retrench financially. Any cut back on consumer spending could weaken the economy further.
No comments:
Post a Comment