{"id":25870,"date":"2016-01-26T16:58:19","date_gmt":"2016-01-26T22:58:19","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=25870"},"modified":"2016-01-26T16:58:19","modified_gmt":"2016-01-26T22:58:19","slug":"consumers-grow-more-confident","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/consumers-grow-more-confident\/","title":{"rendered":"Consumers grow more confident, despite financial-market swings"},"content":{"rendered":"

By Lucia Maffei<\/strong><\/p>\n

Consumer confidence in the U.S. improved moderately in January, a business group reported Tuesday, as Americans shook off a falling stock market and showed cautious optimism in business conditions.<\/p>\n

The non-profit New York-based Conference Board said that its monthly Consumer Confidence Index rose to 98.1 from 96.3 in December. That was above the expectations of the economists surveyed by Bloomberg, who forecast a January index at 96.5.<\/p>\n

\u201cOverall, the message from these measures of consumer attitudes seems to be that there have been enough favorable developments for consumers lately to offset the recent declines in equity markets,\u201d Daniel Silver, economist at JPMorgan, wrote in an online commentary.<\/p>\n

<\/p>\n

Last November, as consumers grew concerned about the job market, the index fell sharply to 90.4.<\/p>\n

The Consumer Confidence Index over the last 12 months<\/h2>\n

[field name=”chart”]<\/p>\n

The index fell below 92 twice in the last 12 months. (Lucia Maffei\/MEDILL)<\/div>\n

\u201cConsumer confidence improved slightly in January, following an increase in December,\u201d said Lynn Franco, director of economic indicators at The Conference Board, in a press release. \u201cConsumers\u2019 assessment of current conditions held steady, while their expectations for the next six months improved moderately.\u201d<\/p>\n

The Expectation Index which Franco referred to increased from 83.0 to 85.9 in January.<\/p>\n

\u201cFor now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy,\u201d Franco added.<\/p>\n

Americans expecting business conditions to improve over the next six months rose from 14.5 percent to 16.2 percent, while those expecting business conditions to worsen edged down from 10.8 percent to 10.3 percent.<\/p>\n

The survey was based on a random sample of approximately 3,000 questionnaires sent to U.S. households and collected by Jan. 14.<\/p>\n

According to The Conference Board, the proportion of workers expecting their incomes to increase improved up 1.8 percentage points, from 16.3 percent to 18.1 percent.<\/p>\n

\u201cThe American consumer has a strong stomach, even after this month\u2019s wild ride,\u201d Jennifer Lee, director and senior economist at BMO Capital Markets Economics, wrote in an analysis. \u201cFor the purposes of consumer spending, there are good intentions out there.\u201d<\/p>\n

\u201cWhether or not there will be follow-through is another story,\u201d Lee concluded.<\/p>\n

Photo at top: A customer carefully examines prices at a CVS Pharmacy store in Chicago on Monday, Jan. 25, 2016. Consumer confidence rose in January. (Lucia Maffei\/MEDILL)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Lucia Maffei Consumer confidence in the U.S. improved moderately in January, a business group reported Tuesday, as Americans shook off a falling stock market and showed cautious optimism in business conditions. The non-profit New York-based Conference Board said that its monthly Consumer Confidence Index rose to 98.1 from 96.3 in December. That was above […]<\/p>\n","protected":false},"author":244,"featured_media":25956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,585],"tags":[956,955,946],"class_list":["post-25870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-winter-2016","tag-business-conditions","tag-conference-board","tag-consumer-confidence-index"],"yoast_head":"\nConsumers grow more confident, despite financial-market swings - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/consumers-grow-more-confident\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consumers grow more confident, despite financial-market swings - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Lucia Maffei Consumer confidence in the U.S. improved moderately in January, a business group reported Tuesday, as Americans shook off a falling stock market and showed cautious optimism in business conditions. 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