US consumer confidence deteriorates further in January

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January 28, 2025 10:15 AM EST

FILE PHOTO: Shoppers navigate a busy parking lot the day ahead of the Thanksgiving holiday outside of a Costco grocery store in Arlington, Virginia, November 27, 2024. REUTERS/Leah Millis/File Photo

WASHINGTON (Reuters) - U.S. consumer confidence weakened for a second straight month in January amid renewed concerns about the labor market and inflation.

The Conference Board said on Tuesday its consumer confidence index fell to 104.1 this month from an upwardly revised 109.5 in December. Economists polled by Reuters had forecast the index rising to 105.6 from the previously reported 104.7.

"Views of current labor market conditions fell for the first time since September, while assessments of business conditions weakened for the second month in a row," said Dana Peterson, the chief economist at the Conference Board. "Additionally, references to inflation and prices continue to dominate write-in

responses."

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)


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