U.S. Consumer Sentiment Slips in January

Before you go, we thought you'd like these...
Before you go close icon
Inside A Family Dollar Store Ahead Of Earnings Figures
Ben Torres/Bloomberg via Getty ImagesA cashier bags items after scanning them at a Family Dollar store in Mansfield, Texas.
By Rodrigo Campos

NEW YORK -- U.S. consumer sentiment slipped in its first January measure, weighed by lowered expectations among lower- and middle-income families, a survey released Friday showed.

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment came in at 80.4, down from 82.5 in December.

It was below the median forecast of 83.5 among economists polled by Reuters.

"Upper-income households benefited from continued strong gains in income as well as increases in stock and home values," survey director Richard Curtin said in a statement.

"Low- and middle-income households were mainly concerned about lackluster growth in employment and income, and anticipated less improvement in long-term prospects for the economy."

The survey's barometer of current economic conditions fell to 95.2 from 98.6 and below a forecast of 98.5.

The survey's gauge of consumer expectations slipped to 70.9 from 72.1 and below a forecast of 74.2.

The survey's one-year inflation expectation was unchanged from last month at 3 percent, while the survey's five-to-10-year inflation outlook rose to 2.9 percent from 2.7 percent.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading