1/27, 4:00 PM (Source: TeleTrader)
more TeleTrader news

US consumer confidence recovers slightly in January

Consumer Sentiment Index in the United States jumped 8.7% on a monthly basis to 64.9 points in January, according to a final report published by the University of Michigan on Friday. The index came in higher than initially projected, but fell 3.4% year-over-year.

The Current Economic Conditions Index surged by 15.2% month-on-month but declined by 5% compared to January 2022. Meanwhile, the Index of Consumer Expectations was up 4.7% from the previous month but slipped by 2.2% on an annual basis.

"Year-ahead inflation expectations receded for the fourth straight month, falling to 3.9% in January from 4.4% in December. The current reading is the lowest since April 2021 but remains well above the 2.3-3.0% range seen in the two years prior to the pandemic," Surveys of Consumers Director Joanne Hsu stated.

Baha Breaking News (BBN) / AB