Consumer Confidence Index (CCI) Increase: The Conference Board Consumer Confidence Index rose to 114.8 in January 2024
Factors Influencing Confidence: Dana Peterson, Chief Economist at The Conference Board, attributes the increase in consumer confidence to factors such as slower inflation
Age Group Variation: The confidence gain was observed across all age groups, with the most significant increase reported among consumers aged 55 and over.
Concerns about Rising Prices: Despite the confidence boost, consumer write-in responses indicate ongoing concerns about rising prices
Optimistic Family Finances: Consumers' assessments of their present family financial conditions improved
Expectations for the Next Six Months: Consumer expectations for the next six months increased slightly, driven by reduced pessimism around future business conditions