U.S. consumers demonstrated heightened confidence in economic conditions for the second consecutive month in January.
The Conference Board’s Consumer Confidence Index moved up to 80.7 this month from a revised 77.5 in December. The improvement in December followed three straight months of declines that had push the index down to 72.0 in November, its lowest mark since the 69.0 recorded in April.
Both the Present Situation Index and Expectations Index components of the survey improved, with the former rising to 79.1 from 75.3 in December and the latter advancing to 81.8 from 79.0 over that span.
“Consumers’ assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably,” said Lynn Franco, director of economic indicators at The Conference Board. “Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead.”
The percentage expecting more jobs in the next six months fell to 15.4 from 17.1 in December while the share expecting fewer jobs also receded, to 18.3 from 19.4. The percentage expecting job prospects to be similar to current conditions constituted nearly two-thirds of the sample — 66.3 percent, up from 63.5 percent.
The biggest improvement in overall confidence was among those in households headed by people under 35, which rose to 100.9 from 90.8.
For households headed by those 55 and over, the index rose to 71.1 from 65.9, and it fell to 82.8, from 83.9, for those in households headed by individuals between the ages of 35 and 54.
The news on The Conference Board’s survey helped lift stocks Tuesday morning as the S&P 500 Retailing Industry Group was up 0.7 percent to 894.98 and the S&P 500 up the same percentage, to 1,793.15, in the first 90 minutes of trading.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast