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.