Consumer Outlook Slips In January

Consumer confidence in the U.S. economy eased slightly in January, with fewer people planning major purchases in the near future, the Conference Board reported Tuesday.

But the business-research group said Americans still had a high degree of faith in the economy’s health.

The Conference Board’s consumer confidence index fell to 102.1 last month from a revised reading of 103.4 in December.

Still, the latest measurement exceeded the 100.4 reading in November and reflected the highest degree of confidence since 1990.

“A high level of consumer confidence has prevailed now for some months,” said Fabian Linden, who heads the Conference Board’s consumer research unit. “Recent readings continue to run close to a four-year high.”

The January reading showed one out of every four households polled felt that jobs were “hard to get,” a slightly higher proportion than the one out of five respondents who described jobs as “plentiful.”

The index also showed fewer people intended to purchase major appliances or new cars.