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HomeNewsEconomyJanuary Consumer Sentiment Falls, Fueled by Wealth Erosion in Stock Market

January Consumer Sentiment Falls, Fueled by Wealth Erosion in Stock Market

Gap-consumer-sentiment-reuters
Gap-consumer-sentiment-reuters

(A shopper leaves the Gap with a bag in New York City. (Photo: REUTERS)

The University of Michigan consumer sentiment index, a closely-watched monthly survey, fell to 92 in January from a preliminary reading of 93.3 earlier in the month.

“Consumer confidence has remained largely unchanged, as the January reading was just 0.6% below last month’s level,” Surveys of Consumers chief economist, Richard Curtin said. “The small downward revisions were due to stock market declines that were reflected in the erosion of household wealth, as well as weakened prospects for the national economy.”

The median forecast called for a higher reading of 93.

Final Consumer Sentiment Results for January 2016

Jan Dec Jan M-M Y-Y
2016 2015 2015 Change Change
Index of Consumer Sentiment 92.0 92.6 98.1 -0.6% -6.2%
Current Economic Conditions 106.4 108.1 109.3 -1.6% -2.7%
Index of Consumer Expectations 82.7 82.7 91.0 +0.0% -9.1%
Next data release: February 12, 2016 for Preliminary February data at 10am ET
Written by
Data Journalism Editor

Rich, the People's Pundit, is the Data Journalism Editor at PPD and Director of the PPD Election Projection Model. He is also the Director of Big Data Poll, and author of "Our Virtuous Republic: The Forgotten Clause in the American Social Contract."

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