Discover U.S. Spending Monitor Consumer Confidence Jumps in January

Consumer confidence jumped in January, with more consumers saying the general economy and their personal finances are improving. The Discover U.S. Spending Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded a 5.5-point jump from the previous month to 90.5. This is the first time since May 2010 that the index has topped 90.

Nearly 30 percent of consumers felt the overall economy is getting better, a jump of more than 6 percentage points from December and the highest figure in the last year. At the same time, those who reported their personal finances were improving rose nearly 5 percentage points to 23 percent ”“ also the highest figure since February 2011.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Personal Finance, Psychology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

One comment on “Discover U.S. Spending Monitor Consumer Confidence Jumps in January

  1. Capt. Father Warren says:

    Does anyone else think this does not meet the “credibility test”?

    Not to fault Discover’s story, but it just reports facts and provides no analysis.

    With the active workforce shrinking, record numbers of folks on foodstamps, and zero wage growth, where does the confidence come from?

    Oil and gasoline have shot up significantly in the last two months; how do people have more money in their pockets after paying bills?

    Home values are continuing to decline, how can people feel better about their financial positions?

    I dunno; the premise [consumers are feeling better] just is hard to square with the facts on the ground.