Consumer confidence in the United States edged down in January on concerns over the economy in the coming months and less optimism on the jobs outlook, according to survey data released Tuesday.
The retreat comes as efforts to cool the world's biggest economy start to bite, with inflation and wage gains showing signs of ebbing.
"Consumer confidence declined in January, but it remains above the level seen last July," said Ataman Ozyildirim senior director of economics at The Conference Board. While the start of the year saw an improvement in consumers' assessment of current economic and labor market conditions, the expectations index went lower in January.Consumers were less upbeat about the short-term outlook for jobs, and also expect business conditions to worsen in the near term, he added.
But the expectation is that incomes will remain relatively stable in the months ahead, with fewer people planning to buy a home.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lack of classrooms must top DepEd’s priority —commissioned surveyMore than half of Filipinos believe that the lack of classrooms must top the Department of Education&39;s (DepEd) priorities, according to a Pulse Asia Survey commissioned by Senator Sherwin Gatchalian.
Read more »
49% of Filipinos believe life will improve in 2023 – SWS surveyEven as the country grapples with rising food costs and high inflation, almost one in every two Filipinos said life will get better in 2023, according to a Social Weather Stations (SWS) survey.
Read more »
Grotesque revision: From declaration of independence to declaration of abortionRoe v. Wade, 410 US 113 (1973), was a landmark decision of the US Supreme Court in which the court ruled that the Constitution of the United States conferred the right to choose to have an abortion.
Read more »
US watchdog identifies $5.4 billion in potentially fraudulent COVID-19 loansThe United States is probing many fraud cases pegged to US government assistance programs, such as the Paycheck Protection Program, unemployment insurance, and Medicare.
Read more »
IMF lifts 2023 growth forecast on China reopening, strength in US, EuropeThe International Monetary Fund raised its 2023 global growth outlook slightly due to “surprisingly resilient” demand in the United States and Europe, an easing of energy costs and the reopening of China’s economy. | Reuters
Read more »
US Peace Corps volunteers arrive in PHA total of 37 volunteers of the 279th US Peace Corps arrived in the Philippines for community development work and assistance across Luzon and Visayas, the United States Embassy in Manila said. | zacariansINQ
Read more »