Confidence in Economy Rises Slightly in January

NEW YORK — The rebound on Wall Street helped restore consumers’ confidence in the economy, but Americans are still concerned about the outlook for their own finances in the months ahead.

A survey by the Conference Board released Tuesday found consumers are feeling better about the current financial situation than they did during December, particularly when it comes to the availability of jobs.

The business research group said its index of consumer confidence rose to 127.6 from an upwardly revised 126.7 in December. The index dropped sharply in October and has since been making a steady recovery.

The rise in consumer confidence was helped mostly by an increase in the number of consumers who said jobs currently are plentiful. Forty-five percent believe there are many jobs available, up from 42.5% in December and the highest reading since July.

Looking ahead to the next six months, the Conference Board finds consumers aren’t quite as secure.

The number of people who said they expect their incomes to increase over the next half-year fell to 23.4% from 28.7%.

Economists had expected that confidence had remained strong in January, but not quite as robust as the report indicated.

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Consumer Confidence

From a monthly survey of 5,000 U.S. households. Index: 1985=100.

January: 127.6

Source: Conference Board