Advertisement
 

Consumer Confidence in U.S. Falls to Lowest Level Since 2011

January 31, 2013

Confidence among U.S. consumers declined more than forecast in January, reaching the lowest level in more than a year as higher payroll taxes took a bigger bite out of Americans' paychecks.

The Conference Board's index decreased to 58.6, the weakest since November 2011, from a revised 66.7 in December, figures from the New York-based private research group showed today. The January reading was lower than the most pessimistic forecast in a Bloomberg survey, which had a median estimate of 64. The drop in confidence coincides with a two percentage- point increase in the payroll tax used to fund Social Security.

...

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: