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WSJ: U.S. Consumers Lose Confidence at Start of Trump's Second Term
WSJ - (archived: https://archive.ph/wSufa ) U.S. Consumers Lose Confidence at Start of Trump’s Second Term
Conference Board’s index falls more than expected
By Ed Frankl
Updated Jan. 28, 2025 11:22 am ET
Confidence among U.S. consumers weakened for a second-straight month, reflecting retreating optimism of both current and future conditions at the start of President Trump’s second term and expectations that inflation will rise again.
The index of consumer sentiment published by research group the Conference Board fell 5.4 points to 104.1, it said Tuesday, a little worse than the 106.0 expected by economists polled by The Wall Street Journal.
The index measuring consumers’ expectations—based on their short-term outlook for income, business and labor-market conditions—fell but remained above the threshold that usually signals a recession ahead, The Conference Board said. Indeed, the proportion of consumers anticipating a recession over the next 12 months was stable near the series low, it noted.
“Consumer confidence has been moving sideways in a relatively stable, narrow range since 2022. January was no exception,” said Dana M. Peterson, chief economist at The Conference Board.
However, all five components used to compile the index declined on the month, with consumers’ assessments of their present situation leading the fall, and pessimism about future employment prospects returning. The fall in sentiment was led by consumers under 55 years old, though those above 55 registered a small uptick in confidence, according to the data.
/snip
Conference Board’s index falls more than expected
By Ed Frankl
Updated Jan. 28, 2025 11:22 am ET
Confidence among U.S. consumers weakened for a second-straight month, reflecting retreating optimism of both current and future conditions at the start of President Trump’s second term and expectations that inflation will rise again.
The index of consumer sentiment published by research group the Conference Board fell 5.4 points to 104.1, it said Tuesday, a little worse than the 106.0 expected by economists polled by The Wall Street Journal.
The index measuring consumers’ expectations—based on their short-term outlook for income, business and labor-market conditions—fell but remained above the threshold that usually signals a recession ahead, The Conference Board said. Indeed, the proportion of consumers anticipating a recession over the next 12 months was stable near the series low, it noted.
“Consumer confidence has been moving sideways in a relatively stable, narrow range since 2022. January was no exception,” said Dana M. Peterson, chief economist at The Conference Board.
However, all five components used to compile the index declined on the month, with consumers’ assessments of their present situation leading the fall, and pessimism about future employment prospects returning. The fall in sentiment was led by consumers under 55 years old, though those above 55 registered a small uptick in confidence, according to the data.
/snip
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
Inorder to keep the economy up and running at peak efficiencies we must put a Republican incharge.
DemocRATS are just too weak, ineffectual, and incompetent to keep the economy humming along like a perfectly engineered rocket engine.
