All articles tagged with #conference board
The Conference Board reported January’s U.S. consumer confidence fell 9.7 points to 84.5, the lowest since 2014, with the Present Situation Index at 113.7 and the Expectations Index at 65.1. The drop suggests a bleaker short-term outlook as concerns about inflation, the labor market, and future income rose, and overall plans for big-ticket purchases weakened, though spending on travel-related services showed some uptick.
The Conference Board has abandoned its prediction of a U.S. recession, despite its Leading Economic Index indicating flatlining economic output in the coming months. The index fell 0.4% in January to its lowest level since April 2020, but the decline rate has slowed, and six out of its 10 components were positive contributors over the past six months. Factors contributing to the change in outlook include a surge in stock prices, low unemployment benefit filings, and positive measures of future credit availability and consumer spending. Economists remain optimistic about the economy's growth mode and expect solid GDP growth in the first quarter.
US consumer confidence in December reached its highest level since July, with the Consumer Confidence Index rising to 110.7. Recession fears also decreased, with the perceived likelihood of a US recession in the next 12 months falling to its lowest level of the year. The boost in confidence was driven by more positive ratings of current business conditions, job availability, and income prospects. The Expectations Index, which signals a recession when below 80, rose to 85.6. The Present Situations Index also increased, reaching its highest level since March.
US consumer confidence, as measured by the Conference Board's Consumer Confidence Index, reached its highest level in two years, hitting 117 in July compared to a revised 110.1 in June. Economists had expected the index to climb to 111.8. The increase in confidence was observed across all age groups and income levels.