The Conference Board Consumer Confidence Index decreased in January, following a decline in December. The Index now stands at 120.2, down from 126.6 in December.
"Shock events such as government shutdowns (i.e. 2013) tend to have sharp, but temporary, impacts on consumer confidence. Thus, it appears that this month’s decline is more the result of a temporary shock than a precursor to a significant slowdown in the coming months," said Lynn Franco, senior director of economic indicators at the Conference Board.