Consumers Remain Economic Believers

The Conference Board’s composite Consumer Confidence Index (CCI) climbed to a record-high during the first month of the new year. The CCI rose by three points between December 1999 and January of this year to reach a level of 144.7 (1985=100). At this index reading, the CCI this January stood 5.3% higher than during the first month of 1999.

Consumers’ assessment of current economic conditions rose a slight 0.4% between last December and this January, while expectations for the future (defined as six months out in this survey) improved by a much more substantial 4.1% over the month. The "Expectations" sub-index of the CCI this January was a very optimistic 20.2% higher than during the same month of 1999, while the assessment of current economic conditions began this year 5.5% above the reading of January 1999.

(index, 1985=100)

Nov-99 Dec-99 Jan-00 Total U.S. 137.0 141.7 144.7 New England 137.1 142.9 144.1 Middle Atlantic 116.7 125.1 133.6 East North Central 144.6 145.4 149.5 West North Central 134.0 142.6 138.5 South Atlantic 144.3 146.9 150.3 East South Central 130.1 127.8 143.5 West South Central 142.3 141.3 150.5 Rocky Mountain 144.0 151.0 131.0 Pacific Coast 144.1 137.1 149.6 Source: The Conference BoardThe CCIs for seven of the nation’s nine regions recorded increases between December and January --Daryl Delano