FXstreet.com (Barcelona) - Consumer confidence has deteriorated again in January dipping for third consecutive month within historically low levels, according to the latest survey by the Conference Board.
In January, the Conference Board's Consumer Confidence Index has dropped to 37.7 points, from 38.6 points in December. The index measuring customer's assessment of the current economic situations has edged down to 29.9 in January, from 30.2 in December. The expectations index has declined to 43.0 in January from 44.2 in December.
Consumer confidence, which stood a t 87.9 in January last year, has dropped to historically low levels according to Lynn Franco, Director of The Conference Board Consumer Research Center: it appears that consumers have begun the New Year with the same degree of pessimism that they exhibited in the final months of 2008. The minor change in the Present Situation Index suggests that economic conditions did not deteriorate significantly further in January but, on the other hand, they did not improve either. Looking ahead, consumers remain quite pessimistic about the state of the economy and about their earnings