Americans were more optimistic in January, sending the Consumer Confidence Index to 106.3, up from 103.8 last month and representing the highest level since June 2002.
However, that optimism didn’t translate into positive expectations over the longer term outlook. The Expectations Index slipped to 91.5 from 92.6 last month.
“This month’s increase was driven solely by consumers’ assessment of current economic conditions, especially their more positive view of the job market,” said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. The monthly Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households, conducted for the Board by TNS. The cutoff date for January’s preliminary results was Jan. 24.
For complete coverage, see tomorrow’s WWD.