Consumer confidence turned back again
January 29, 2008,
New York – Consumer confidence, which showed some bounce in December, slipped back in January, The Conference Board reported today.
Lynn Franco, director of The Conference Board Consumer Research Center, said:“Consumers’ appraisal of current business conditions is becoming more negative and their assessment of the job market, while slightly less negative than in December, is more negative than a year ago.”
“Looking ahead, consumers are quite downbeat about the short-term future and a greater proportion expect business conditions and employment to deteriorate further in the months ahead,” Franco continued. “In addition, the percentage of consumers anticipating an improvement in their earnings has declined and could potentially impact spending decisions.”