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ECON: Consumer Confidence Much Lower Than Expected
Posted to: Micro News
Tuesday, January 29, 2013 10:07 AM

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- Confidence 58.6 vs 64.0 Consensus
- "Present Situation" 57.3 vs 64.6 previously
- "Expectations" 59.5 vs 68.1 previously
- Confidence and Expectations Lowest since late 2011
- "Jobs hard-to-get" rises for first time since September


The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was January 17.

Says Lynn Franco, Director of Economic Indicators at The Conference Board: “Consumer Confidence posted another sharp decline in January, erasing all of the gains made through 2012. Consumers are more pessimistic about the economic outlook and, in particular, their financial situation. The increase in the payroll tax has undoubtedly dampened consumers’ spirits and it may take a while for confidence to rebound and consumers to recover from their initial paycheck shock.”




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