CONSUMER CONFIDENCE FALLS LESS THAN EXPECTED

Michigan basketballMike Carter-USA TODAY SportsJan 25, 2014; East Lansing, MI, USA; Michigan Wolverines bench reacts to a play during the 2nd half of a game at Jack Breslin Student Events Center. Michigan won 80-75.

The final results of the University of Michigan’s monthly consumer confidence survey are out.

The report’s headline index fell to 81.2 in January from December’s 82.5 reading, but bested both preliminary estimates released by the University of Michigan earlier this month (80.4) and the median estimate of Wall Street economists (81.0).

The economic conditions sub-index fell to 96.8 from 98.6, while the economic outlook sub-index fell to 71.2 from 72.1.

Inflation expectations one year head rose to 3.1% from 3.0%, while inflation expectations five years ahead rose to 2.9% from 2.7%.

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