US consumer confidence fell in January after a pick-up in December that had encouraged hopes for a broader turnaround in the economy, according to the Conference Board index released today.
The index slipped to 61.1 down from 64.8 in December, returning to the level of two months ago.
"Consumers' assessment of current business and labour market conditions turned more downbeat and is back to November 2011 levels," said Lynn Franco of the Conference Board Consumer Research Center.
"Regarding the short-term outlook, consumers are more upbeat about employment, but less optimistic about business conditions and their income prospects. Recent increases in gasoline (petrol) prices may have consumers feeling a little less confident this month," she added.
US home prices fell again in November
Prices for US homes fell again in November, a key index showed today, failing to respond to record low mortgage loan rates.
Prices fell from October by a seasonally adjusted 0.7%, according to the S&P-Case-Shiller index for 20 top metropolitan areas, after an identical 0.7% drop the previous month.
The only gains were made in Phoenix, Arizona and Denver, Colorado - both cities had been very hard hit in the post-2005 housing market crash.
From a year earlier, prices were down 3.7% around the country, with the only annual gains posted in Washington DC (up 0.5%), and Detroit, Michigan, which rebounded by 3.8%. The rate of the price rise in both was slower than a month earlier.
