Global| Jan 30 2007Consumer Confidence Rose Slightly, Highest Since 2002
by:Tom Moeller
|in:Economy in Brief
Summary
Consumer confidence increased a modest 0.3% in January, according to the Conference Board Survey, following an upwardly revised 4.5% December gain. The increase was to the highest level since March 2002. The reading of present [...]
Consumer confidence increased a modest 0.3% in January, according to the Conference Board Survey, following an upwardly revised 4.5% December gain. The increase was to the highest level since March 2002.
The reading of present conditions rose a firmer 2.6% after the 4.1% December increase as the percentage of respondents who viewed business conditions as good rose to 28.1%, the highest since last May. The percentage who viewed jobs as plentiful also rose to 29.9%, the highest since 2001. 
Expectations, however, reversed nearly half of the December gain with a 1.9% decline. Expectations about future income fell the hardest, offset by an uptick in expected employment conditions.
The expected inflation rate in twelve months ticked lower to 4.7%, that was versus expectations during all of last year for a 5.1% rate of inflation in twelve months.Monetary Policy Inertia and Recent Fed Actions from the Federal Reserve Bank of San Francisco can be found here.
| Conference Board (SA, 1985=100) |
January | December | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Consumer Confidence Index | 110.3 | 110.0 | 3.3% | 105.9 | 100.3 | 96.1 |
| Present Conditions | 133.9 | 130.5 | 4.0% | 130. | 116.1 | 94.9 |
| Expectations | 94.5 | 96.3 | 2.6% | 89.7 | 89.7 | 96.9 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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