Although improving job market conditions boosted consumer confidence in January, the outlook for the next six months grew weaker, The Conference Board reported today.

“This month’s slight increase in confidence was solely the result of an improvement in the present situation index, fueled primarily by a more favorable job market,” said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. “Looking ahead, however, consumers are not as optimistic as they were in December. All in all, the Index suggests a moderate improvement in the pace of growth in early 2007.”

According to the consumer confidence index, which edged up from 110 in December to 110.3 this month, consumers’ overall assessment of current-day conditions was more upbeat than in December. Those claiming conditions are “good” increased to 28.1 percent from 27.4 percent, while fewer people (19.7 percent) say jobs are “hard to get” this month and more people (29.9 percent) claim jobs are “plentiful.”

While the present situation index increased to 133.9 this month, the expectations index fell to 94.5, as the outlook for business conditions and the labor market cooled.

Those consumers anticipating business conditions to worsen edged up to 8 percent this month, and those expecting business conditions to get better decreased slightly to 16.2 percent. On the job front, those anticipating fewer jobs in the coming months edged up to 15.7 percent from 15.5 percent in December. The proportion of consumers expecting their incomes to increase in the months ahead declined to 19.8 percent from 21.4 percent in December.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription