WASHINGTON — U.S. consumer confidence rose in January as Americans became more optimistic about the future.
The Conference Board reported Tuesday that its
The increase was fueled by the board's rising expectations index, which measures perceptions about the future path of incomes, business and
“The slow rollout of the vaccines and the still raging pandemic continue to depress consumer confidence despite the prospect of further fiscal aid and a brighter and a brighter health situation,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics.
For January, the report showed that the views on current conditions weakened with the percentage of consumers who ranked business conditions as bad rising from 39.7% to 42.8%. Consumers' perceptions of the
In terms of future prospects, the
The survey found that the number of people expecting to buy a home in the next six months improved to a reading of 7.2%, up from 6% in December. Economists took this increase as a good indication that sales of existing homes should show improvements in coming months.
Robert Frick, corporate economist at Navy Federal Credit Union, said this increase could indicates people are becoming more willing to move once virus levels drop. “That could free up tight housing inventories as an unusually high number of homeowners are choosing to stay in their homes during the pandemic,” he said.
Martin Crutsinger, The Associated Press