Overview
- The Conference Board’s Consumer Confidence Index fell 9.7 points to 84.5 in January, the weakest reading since May 2014 and below pandemic-era lows.
- Both components declined, with the Present Situation Index at 113.7 and the Expectations Index sliding to 65.1, well under the 80 level often linked to elevated recession risk.
- Labor perceptions deteriorated as the share saying jobs are plentiful fell to 23.9% and those saying jobs are hard to get rose to 20.8%, narrowing the labor‑market differential to 3.1.
- Survey responses highlighted persistent pressure from gas and grocery prices along with rising mentions of tariffs, trade policy, politics, health insurance and war.
- A contrasting signal came from the University of Michigan, which revised January sentiment up to 56.4, while recent data showing only about 50,000 jobs added in December and spending supported by higher‑income households framed the mixed backdrop.