The Conference Board Consumer Confidence Index increased in January, following a moderate increase in December. The index now stands at 131.6, up from an upwardly revised 128.2 in December. The Present Situation Index increased from 170.5 to 175.3. The Expectations Index increased from 100.0 last month to 102.5 this month.

“Consumer confidence increased in January, following a moderate advance in December, driven primarily by a more positive assessment of the current job market and increased optimism about future job prospects,” said Lynn Franco, senior director, economic indicators, at the Conference Board. “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.”