(Photo: Reuters)
The Survey of Consumers, a closely-watched gauge of consumer sentiment from the University of Michigan, came in at 98.1 in January, showing little change. The initial reading immediately after President-elect Donald J. Trump won the presidential election was a surge in confidence, a sentiment that continues several weeks after.
The preliminary result did miss expectations, as economists were looking for the reading to increase to 98.5.
“Consumer confidence remained unchanged at the cyclical peak levels recorded in December,” said Surveys of Consumers chief economist, Richard Curtin. “The Current Conditions Index rose 0.6 points to reach its highest level since 2004, and the Expectations Index fell 0.6 points which was lower than only the 2015 peak during the past dozen years.”
| Jan | Dec | Jan | M-M | Y-Y | |
| 2017 | 2016 | 2016 | Change | Change | |
| Index of Consumer Sentiment | 98.1 | 98.2 | 92.0 | -0.1% | +6.6% |
| Current Economic Conditions | 112.5 | 111.9 | 106.4 | +0.5% | +5.7% |
| Index of Consumer Expectations | 88.9 | 89.5 | 82.7 | -0.7% | +7.5% |
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