The Conference Board reported on Consumer confidence further decrease to 58.6 in January, the lowest level since November 2011.
The Conference Board Consumer Confidence Index, after decline in November and then in December, falls further in January. The January index is only 58.6.
Meanwhile the December index was revised to 66.7 from prior 65.1.
The Expectations index dropped to 59.5 in January from 68.1 in December
The Present situation index fell tto 57.3 from 64.6 beforer, being the first decline since July. The percentage of consumers who said business conditions are good fell to 16.7% in January from 17.2% in December, while those saying conditions are bad rose to 27.4% from 26.3%. The rest said conditions are normal.
Consumers are more pessimistic about the economic outlook and, in particular, with their financial situation, concluded the Conference Board.