Tuesday, January 31, 2012
Consumer confidence fell in January after two months of 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.
Read more at OregonLive.com.