Confidence Falls
US consumer confidence fell this month to its lowest level in over a decade.
Context
The Conference Board, a nonprofit business research organization, measures consumer confidence through monthly surveys that ask Americans about their current economic situation and future expectations. The index is closely watched by economists as an indicator of future spending patterns and overall economic health.
Sharp Decline
The Conference Board released data on Tuesday that showed the consumer confidence index dropped to 84.5 points in January, down from 94.2 in December. The reading marked the worst result since May 2014 and falls short of the 100-point mark that signifies neutral consumer confidence in the economy.
