The Conference Board Consumer Confidence Index dropped -5.4 pts to 104.1 in January after the December reading was revised up 4.8 pts to 109.5. This was a larger-than-expected decline. The Present Situation Index fell -9.7 pts to 134.3, and the Expectations Index fell -2.6 pts to 83.9.

Consumers’ view of current business conditions worsened (18.4% describing it as “good”, down from 21.0% in December), and their view of the labor market also deteriorated (33.0% describing jobs as “plentiful”, down from 37.1% in December). In general, expectations of business conditions and consumers’ financial situations also cooled but to a lesser extent than the current measures.