Consumer Confidence Improves in US, But Remains Near All Time Lows
The consumer confidence improved today after falling to all time lows at the end of 2020
Skerdian Meta•Tuesday, January 26, 2021•1 min read
The consumer confidence took a massive downturn in the US during the lock-down months in spring last year, but it reversed back up in summer and in September and October the CB consumer confidence indicator moved above 100 points. Although it was still far from the pre-coronavirus levels. in November and December this indicator dived again, as the restrictions increased in the US, but today’s report showed a slight improvement, which is a positive thing.
US January Conference Board Consumer Confidence Report
- January Conference Board consumer confidence 89.3 points vs 89.0 expected
- Prior was 88.6 (revised to 87.1)
- Present situation 84.4 vs 90.3 prior
- Expectations 92.5 vs 87.5 prior
- 1 year inflation expectations 5.8% vs 6.0% prior
- Jobs hard-to-get 23.8 vs 22.9 prior
This number missed in a big way in the December report and economists correctly didn’t anticipate much of a rebound. The good news is that the ‘expectations’ component rebounded but that’s going to need a $1400 check behind it, or the mood will sour again.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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