January Consumer Sentiment Largely Unchanged
17 January 2020 - 03:56PM
Dow Jones News
By David Harrison
Americans' economic outlook weakened very slightly at the start
of January, according to a University of Michigan survey released
Friday.
The survey's headline index of consumer sentiment was 99.1 in
early January, down from 99.3 at the end of December. Economists
surveyed by The Wall Street Journal had expected a reading of
99.5.
The survey's index of current economic conditions -- based on
respondents' views of consumers' financial situation -- was 115.8,
up slightly from 115.5 at the end of December.
Richard Curtin, the survey's chief economist, said the numbers
suggests consumer spending, which has powered the record-long
expansion, should remain strong in the near term.
"Consumers will continue to sustain the expansion due to their
favorable judgments about their current and prospective financial
situation," he said. "Of course, whether that strength will last
another two years is uncertain given the election season has begun
and will feature fundamental changes in taxes and spending
programs."
Write to David Harrison at david.harrison@wsj.com
(END) Dow Jones Newswires
January 17, 2020 10:41 ET (15:41 GMT)
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