U.S. consumer confidence fell further in January as concerns about the labor market and inflation persisted. The Conference Board reported a drop to 104.1 for December, marking a second consecutive monthly decline. Economists had forecasted an increase from the previous reading of 104.7. Dana Peterson, chief economist at the Conference Board, noted that views on current labor market conditions fell for the first time since September, while assessments of business conditions weakened in December. Inflation and price concerns remain a significant focus for consumers, signaling potential challenges ahead.
Source: https://www.reuters.com/markets/us/us-consumer-confidence-deteriorates-further-january-2025-01-28