AP business writer, matte otto
Washington (AP) -The US consumer trust has been immersed for two consecutive months in January, on Tuesday.
The Conference Committee reported that the consumer trust index has retreated from 109.5 in December to 104.1 this month. This is worse than the 105.8 reading economist prediction.
The reading in December has risen by 4.8 points, but it is still a decrease in November.
The Consumer Trust Measures will measure both the current 6 -month American evaluation of the current economic situation and its prospects.
Consumers seemed to be more confident at the end of 2024, and spending during the holiday season was firm. In the face of an increase in borrowing costs, the retail sales in December rose 0.4 %, and during the winter holiday shopping season, stores were generally reported to sell healthy.
The Board of Directors stated that consumers’ views on the current conditions have fallen by 9.7 points to read 134.3 in January, and their current views on the current labor market have decreased for the first time since September.
Americans’ short -term expectations for income, business and employment markets have fallen by 2.6 points to 83.9. The meeting committee states that reading under the age of 80 can show a potential recession in the near future.
However, the percentage of consumers who are expecting a recession for the next 12 months remained stable at the low ends of the series.
Although the board of directors has decreased for the past two months, consumers have continued to spend their costs and support the US economy since the rapid recovery from the Covid-19 economy in the spring of 2020.
In December, the government said that the US economy has grown with a 3.1 % clip from July to September, and has been promoted by active consumer spending and exports. The growth of GDP has exceeded 2 % in the 8th quarter of the past nine quarters.
All spending can catch up with consumers. The Philadelphia Federation Bank reported last week that credit card balance and delinquency have increased, and the minimum paid card owners are expensive for 12 years.
He stated that the sharing of respondents on the latest survey by the Committee will be purchased in the next six months.
Consumer spending accounts for about two -thirds of US economic activities, and is carefully monitored how economists feel American consumers.
Initially issued: January 28, 2025 10:11 AT
