Dive Brief:
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Consumer confidence in the United States rose to a five-month high in January, reflecting hopeful attitudes toward the economy and jobs.
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The index of the private, independent economic research organization The Conference Board rose to 80.7 from 77.5 in December, a surprise increase. Another prediction from a Bloomberg survey of 79 economists was for a measure of 78.
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The index had averaged 53.7 during the recession ending mid-2009.
Dive Insight:
This is the time to cross your fingers. Healthy consumer confidence has sustained for two straight months — the trick is to keep it there. Economists are looking for an increasingly better jobs picture and wage growth to keep this level of confidence up and begin to affect actual spending habits. To be sure, consumers have sharpened their wits when it comes to finding deals and demanding good value. But if their living gets a little easier, so too will their spending.