US consumer confidence rebounds in January

Business

A sales associate helps customers as they consider the purchase of a big-screen television at a Costco warehouse on Wednesday, Nov. 18, 2020, in Sheridan, Colo. U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed Americans’ confidence down to the lowest level since August. The Conference Board said the November reading represented a drop from a revised 101.4 in October. (AP Photo/David Zalubowski)

WASHINGTON (AP) — U.S. consumer confidence rose in January as Americans became more optimistic about the future.

The Conference Board reported Tuesday that its consumer confidence index increased to 89.3, a rebound from December when it dipped to 87.1.

The increase was fueled by the board’s rising expectations index, which measures feelings about the future path of incomes, business and labor market conditions. The present situation index weakened further, likely reflecting concerns about the resurgence of COVID-19.

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