US consumer confidence unexpectedly deteriorated in January, falling to its lowest level since 2014, amid growing anxiety about high prices and a sluggish labor market, a survey released on Tuesday showed.
The Conference Board reported on Tuesday (27) that the consumer confidence index fell 9.7 points this month, to 84.5, the lowest level since May 2014. Economists consulted by Reuters had forecast a reading of 90.9.
“Consumers’ written responses about factors affecting the economy continued to lean toward pessimism,” said Dana Peterson, chief economist at the Conference Board.
“References to prices and inflation, oil and gas prices and food and market prices remained high. Mentions to trade, politics and the job market also increased, and references to health insurance and war rose”, he highlighted.
