Consumer confidence wilts in January

NEW YORK -- A private research group says that consumer confidence retreated in January after two straight months of big gains.

The Conference Board is reporting Tuesday that its Consumer Confidence Index now stands at 61.1, down from a revised 64.8 in December. Economists had expected a reading of 68. The index had surged from 40.9 in October to 64.8 in December.

The Conference Board says that even though consumers were more upbeat about jobs, they were less optimistic about income prospects. Rising gas prices have also taken a toll on sentiment.

A reading of 90 indicates a healthy economy, a level the index hasn't approached since December 2007 when the recession began.

Economists watch the confidence numbers closely because consumers' spending accounts for about 70 percent of U.S. economic activity.

[SaveRMiddle]

Silly little meaningless poll of 5000. The Oct to Dec surge? Come on.

[overtax]

Holidays are over, and unemployment has risen the past two weeks.
February and March unemployment numbers will be key to manufacturing hiring.
April brings more outdoor employment and we should expect a rise in hiring then.
Showing why the next two months will show if their is growth in hiring.

[jeannutson]

These are some of the signs that some of the slight improvements seen in the economy was due to the holiday season,now that the holiday season is over the gains are diminishing.