US Consumer Confidence Plummets to 12-Year Low in January

Confidence Collapses Amid Economic Pessimism

U.S. consumer confidence experienced a sharp decline in January, falling to its lowest level since May 2014 and even surpassing the depths seen during the COVID-19 pandemic. The Conference Board's Consumer Confidence Index® registered 84.5 in January, a significant drop from the upwardly revised 94.2 in December. This marks the second consecutive month where the index has fallen, following a brief uptick. The preliminary results for January, gathered before the 16th of the month, indicate a renewed downward trend in consumer sentiment.

Dana M. Peterson, Chief Economist at The Conference Board, stated,