FOREX TradingCharts.com

Financial News: U.S. Consumer Confidence Unexpectedly Improves In January

U.S. Consumer Confidence Unexpectedly Improves In January

01/26/2021 - 10:32:00 (RTTNews)

(RTTNews) - Reflecting an increase in optimism about the short-term economic outlook, the Conference Board released a report on Tuesday unexpectedly showing an improvement in U.S. consumer confidence in the month of January.

The Conference Board said its consumer confidence index climbed to 89.3 in January from a downwardly revised 87.1 in December.

The increase surprised economists, who had expected the index to edge down to 88.5 from the 88.6 originally reported for the previous month.

The unexpected rebound by the headline index came as the expectations index jumped to 92.5 in January from 87.0 in December.

The percentage of consumers expecting business conditions to improve over the next six months increased to 33.7 percent from 29.5 percent, while those expecting business conditions to worsen fell to 18.1 percent from 22.0 percent.

The outlook for the job market also improved, with consumers expecting more jobs in the months ahead rising to 31.3 percent from 28.0 percent, while those anticipating fewer jobs dipped to 21.4 percent from 22.2 percent.

Meanwhile, the report said the present situation index slid to 84.4 in January from 87.2 in December, suggesting consumers' appraisal of current conditions weakened further during the month.

The percentage of consumers claiming business conditions are "good" inched up to 15.8 percent from 15.4 percent, but those claiming business conditions are "bad" also rose to 42.8 percent from 39.7 percent.

Consumers' assessment of the labor market was also less favorable, with the percentage of consumers saying jobs are "plentiful" edging down to 20.6 percent from 21.0 percent and those claiming jobs are "hard to get" rising to 23.8 percent from 22.9 percent.

"Consumers' appraisal of present-day conditions weakened further in January, with COVID-19 still the major suppressor," said Lynn Franco, Senior Director of Economic Indicators at the Conference Board.

She added, "Consumers' expectations for the economy and jobs, however, advanced further, suggesting that consumers foresee conditions improving in the not-too-distant future."

On Friday, the University of Michigan is scheduled to release its revised reading on consumer sentiment in the month of January.

Economists expect the consumer sentiment index for January to be unrevised from the preliminary reading of 79.2, which was down from 80.7 in December.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Taiwan Manufacturing Sector Accelerates In February - Markit (03 hr(s), 52 min(s), 55 sec(s) ago)
(RTTNews) - The manufacturing sector in Taiwan continued to expand in February, and at a faster pa ...Full Story»

South Korea Manufacturing PMI Climbs To 55.3 In February - Markit (04 hr(s), 02 min(s), 55 sec(s) ago)
(RTTNews) - The manufacturing sector in South Korea continued to expand in February, and at a fast ...Full Story»

Australia Has A$14.523 Billion Current Account Surplus (04 hr(s), 10 min(s), 55 sec(s) ago)
(RTTNews) - Australia posted a current account surplus of A$14.523 billion in the fourth quarter o ...Full Story»

Australia Building Approvals Plummet In January (04 hr(s), 16 min(s), 55 sec(s) ago)
(RTTNews) - The total number of building permits issued in Australia in January tumbled by a seaso ...Full Story»

Japan Jobless Rate Steady At 2.9% In January (05 hr(s), 12 min(s), 55 sec(s) ago)
(RTTNews) - The unemployment rate in Japan came in at a seasonally adjusted 2.9 percent in January ...Full Story»

South Korea Industrial Output Sinks 1.6% In January (05 hr(s), 17 min(s), 55 sec(s) ago)
(RTTNews) - Industrial production dropped a seasonally adjusted 1.6 percent on month in January, S ...Full Story»

South Korea Retail Sales Climb 1.6% In January (05 hr(s), 37 min(s), 55 sec(s) ago)
(RTTNews) - The total value of retail sales was up a seasonally adjusted 1.6 percent on month in J ...Full Story»

South Korea Industrial Production Sinks 1.6% In January (05 hr(s), 46 min(s), 55 sec(s) ago)
(RTTNews) - Industrial production was down a seasonally adjusted 1.6 percent on month in January, ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Taiwan Manufacturing Sector Accelerates In February - Markit

03/01/2021 - 20:05 PM (RTTNews)
(RTTNews) - The manufacturing sector in Taiwan continued to expand in February, and at a faster pa ...Full Story>>

South Korea Manufacturing PMI Climbs To 55.3 In February - Markit

03/01/2021 - 19:55 PM (RTTNews)
(RTTNews) - The manufacturing sector in South Korea continued to expand in February, and at a fast ...Full Story>>

Australia Has A$14.523 Billion Current Account Surplus

03/01/2021 - 19:47 PM (RTTNews)
(RTTNews) - Australia posted a current account surplus of A$14.523 billion in the fourth quarter o ...Full Story>>

Australia Building Approvals Plummet In January

03/01/2021 - 19:41 PM (RTTNews)
(RTTNews) - The total number of building permits issued in Australia in January tumbled by a seaso ...Full Story>>

Japan Jobless Rate Steady At 2.9% In January

03/01/2021 - 18:45 PM (RTTNews)
(RTTNews) - The unemployment rate in Japan came in at a seasonally adjusted 2.9 percent in January ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.