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The Conference Board Consumer Confidence Index Increased Sharply

Conference Board News Release (01/27/15)

The Conference Board Consumer Confidence Index rose from 93.1 in December to 102.9 in January. The Present Situation Index rose from 99.9 to 112.6, and the Expectations Index increased from 88.5 to 94.6.

“Consumer confidence rose sharply in January, and is now at its highest level since August 2007,” says Lynn Franco, director of economic indicators at the Conference Board. “A more positive assessment of current business and labor market conditions contributed to the improvement in consumers’ view of the present situation. Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings.”

Consumers anticipating more jobs in the months ahead increased from 14.6% to 16.7%, while those anticipating fewer jobs declined from 16.5%to 15.0%.