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By Kerry Smith<\/div><\/div>\n

Americans think current conditions aren\u2019t great \u2013 but they\u2019ll get better. The overall index rose more than 2 points but a future expectations index rose 5.5 points. It also had positive housing news, suggesting \u201cthe pace of home sales should remain robust in early 2021.\u201d<\/span><\/span><\/p>\n<\/div>\n

BOSTON \u2013 The Conference Board Consumer Confidence Index for January found an uptick in attitudes after it decreased in December.<\/span><\/span><\/p>\n

The Index now stands at 89.3, up from 87.1 in December. However, the Present Situation Index \u2013 based on consumers\u2019 assessment of current business and labor market conditions \u2013 decreased from 87.2 to 84.4.<\/span><\/span><\/p>\n

The Expectations Index \u2013 based on consumers\u2019 short-term future outlook for income, business and labor market conditions \u2013 increased from 87.0 in December to 92.5 this month. <\/span><\/span><\/p>\n

\u201cConsumers\u2019 appraisal of present-day conditions weakened further in January, with COVID-19 still the major suppressor,\u201d says Lynn Franco, senior director of economic indicators at The Conference Board. \u201cConsumers\u2019 expectations for the economy and jobs, however, advanced further, suggesting that consumers foresee conditions improving in the not-too-distant future.\u201d<\/span><\/span><\/p>\n

Franco says the index also suggests strength in the housing market: \u201cThe percent of consumers who said they intend to purchase a home in the next six months improved, suggesting that the pace of home sales should remain robust in early 2021.\u201d<\/span><\/span><\/p>\n

Current conditions<\/strong>: The percentage of consumers claiming business conditions are \u201cgood\u201d increased from 15.4% to 15.8%, but those claiming business conditions are \u201cbad\u201d also increased, from 39.7% to 42.8%.<\/span><\/span><\/p>\n

Assessment of the labor market was also less favorable. The percentage of consumers saying jobs are \u201cplentiful\u201d declined from 21.0% to 20.6%, while those claiming jobs are \u201chard to get\u201d rose from 22.9% to 23.8%.<\/span><\/span><\/p>\n

Future expectations<\/strong>: While current conditions are challenging, consumers are slowly gaining more hope for the future. <\/span><\/span><\/p>\n

The percentage of consumers expecting business conditions to improve over the next six months increased from 29.5% to 33.7%, while those expecting business conditions to worsen decreased from 22.0% to 18.1%.<\/span><\/span><\/p>\n

Outlooks regarding the job market also improved. The proportion expecting more jobs in the months ahead increased from 28.0% to 31.3%, while those anticipating fewer jobs decreased from 22.2% to 21.4%.<\/span><\/span><\/p>\n

Regarding short-term income prospects, the percentage of consumers expecting an increase declined from 15.7% to 14.4% \u2013 but the proportion expecting a decrease also declined from 14.6% to 14.2%.<\/span><\/span><\/p>\n

Nielsen conducts the monthly Consumer Confidence Survey for The Conference Board. The cutoff date for the preliminary results was January 14.<\/span><\/span><\/p>\n

\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n

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\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"