Conference Board's CCI climbs second straight month
NEW YORK -- The Conference Board's (www.conference-board.org) Consumer Confidence Index (CCI) rose for the second consecutive month in January. The CCI now stands at 97.3 (1985=100), up nearly three points from 94.6 in December.
The Expectations Index rose from 92.4 to 96.9. The Present Situation Index remained unchanged at 97.8.
The Conference Board's monthly Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households, conducted for the The Conference Board by NFO WorldGroup, a member of The Interpublic Group of Companies (NYSE:IPG).
"While the economy has not turned around yet, the worst may well be over," said Lynn Franco, director of The Conference Board's Consumer Research Center. "The upturn in confidence is being driven by growing confidence about the business outlook and job prospects. Consumer expectations for the future are now higher than they have been in more than a year."
Consumers are more upbeat about economic prospects six months from now. Those expecting an improvement in business conditions rose to 25 percent, up from 22.2 percent in December. Those anticipating conditions to worsen fell to 9.6 percent, down from 11.6 percent.
The Conference Board, a not-for-profit, 501 (c) (3) tax-exempt organization, creates and disseminates knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. Working as a global, independent membership organization in the public interest, it conducts research, convenes conferences, makes forecasts, assesses trends, publishes information and analysis, and brings executives together to learn from one another.