Consumer Confidence Improves in January over December

Business research group the Conference Board reports a brighter view of the job market and business conditions has led consumer confidence to its highest point since August, 2013, reaching 80.7 in January, up from a 77.5 December reading of the index. “Confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead,” said Conference Board economist Lynn Franco. According to what RVBusiness tells MHProNews, since consumer spending accounts for 70 percent of U. S. economic activity, it is a closely watched monitor of the economy. Given the unseasonably cold weather in January, Amna Asaf, an economist at Capital Economics, said the January increase was encouraging.

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