Channel NewsAsia

US consumer confidence rises in January

US consumers gained confidence in the economy for the second straight month in January, with rising expectations for overall growth and earnings gains, the Conference Board reported on Tuesday.

WASHINGTON: US consumers gained confidence in the economy for the second straight month in January, with rising expectations for overall growth and earnings gains, the Conference Board reported on Tuesday.

The board's Consumer Confidence Index rose to 80.7, up from 77.5 in December and 58.4 in January 2013.

Readings for both current economic conditions and future expectations were better, though in both cases there were still doubts about the strength of the job market.

"Consumers' assessment of the present situation continues to improve," said Lynn Franco, director of economic indicators at the board.

"Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs," she said.

"All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead."

Tweet Photos, Videos and Update on this Story to  #cna