(ABM FN-Dow Jones) US consumer confidence in the economy indeed improved considerably in January. This emerged from final figures from the University of Michigan on Friday.
The consumer confidence index improved from 69.7 to 79.0, rising slightly faster than the 78.8 previously reported in preliminary figures.
Respondents were more positive about the current state of the economy. This subindex rose from 73.3 to 81.9. The expectations index rose from 67.4 to 77.1.
The inflation forecast for the next 12 months was 2.9 percent, the lowest level since December 2020. A provisional inflation forecast of also 2.9 percent was previously issued.
The inflation expectation for the next 5 years was 2.9 percent, which is within the range of 2.9 to 3.1 percent that was visible in 27 of the last 30 months.
Earlier this week, consumer confidence in the US, as measured by research agency The Conference Board, also increased. The index reading of 114.8 is the highest reading in two years.
Source: ABM Financial News
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