Consumer Confidence Crushes Expectations With Huge Jump To 60.6

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Headline: 60.6 for January

Expectations: 54.3

Analysis: That’s a huge jump from December to January, with a 7.3 point gain on December’s number.

Consumers are notably more bullish on the jobs market, from The Conference Board (emphasis ours):

Consumers’ short-term outlook was more optimistic than in December. Those anticipating an improvement in business conditions over the next six months increased to 19.0 per cent from 16.8 per cent, while those anticipating business conditions will worsen decreased to 11.3 per cent from 11.8 per cent. Consumers were also more optimistic about the job market. Those anticipating more jobs in the months ahead increased to 16.0 per cent from 14.2 per cent, while those expecting fewer jobs declined to 17.5 per cent from 19.2 per cent. The proportion of consumers expecting an increase in their incomes rose to 11.4 per cent from 9.9 per cent.

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