Consumer confidence essentially flat in January
Consumer confidence remained essentially flat in the first part of January compared with December, the Reuters/University of Michigan survey out moments ago said.
The consumer confidence index came in at 72.8 in January, up from 72.5 in December.
The index is broken into two parts: how consumers feel about their situation right now, and how they expect it to be in six months.
The "current conditions" number rose to 81 in January, up three from December, meaning folks are feeling better about the right-now.
The "expectations" index ticked down from 69 in December to 68 in January, meaning people are a little less optimistic going forward than they were.
Some 70 percent of the U.S. economy is based on consumer spending, so it's important to recovery that consumers feel better and start buying things. That's especially important in this recovery, which looks like it's going to be jobless. Unemployment now stands at 10 percent and is likely to hold near that level throughout 2010.
-- Frank Ahrens
Follow me on Twitter at @theticker
January 15, 2010; 10:08 AM ET
Categories: The Ticker | Tags: consumer confidence
Save & Share: Previous: Stocks open lower following inflation data
Next: Is Google the hammer that brings down China's wall?
The comments to this entry are closed.