U.S. Consumer Confidence Declines

WASHINGTON (Reuters) – U.S. consumer confidence weakened for a second consecutive month in January, following renewed concerns about the labor market and inflation.

The Conference Board reported on Tuesday that its consumer confidence index decreased to 104.1 this month from an upwardly revised 109.5 in December. Economists surveyed by Reuters had expected the index to rise to 105.6 from the previously reported 104.7.

Dana Peterson, the chief economist at the Conference Board, noted, “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. Additionally, references to inflation and prices continue to dominate write-in responses.”