MW: U.S. consumer confidence rises to 16-month high
By Rex Nutting
WASHINGTON (MarketWatch) - A little more optimism about the current economic climate sent the U.S. consumer confidence index to a 16-month high in January, according to a survey released Tuesday by the Conference Board. The consumer confidence index rose to 55.9 in January from an upwardly revised 53.6 in December. Economists surveyed by MarketWatch were looking for an increase to 53.5 from the previously reported December level of 52.9. Still, consumer confidence remains very weak, far below the average level of 95. The improvement in January was due mainly to better feelings about the present situation. Consumer expectations also improved. Assessments of the labor market improved marginally.
