Consumer Confidence Rises, but Economic Crocodiles Lurk Under the Surface

February 1, 2024--Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--On January 30, a consumer research group named The Confidence Board released a survey saying that their Consumer Confidence Index had reached a two-year high, and that it "rose in January to 114.8 (1985=100), up from a revised 108.0 in December. The reading was the highest since December 2021, and marked the third straight monthly increase."

Indeed, hopes of reduced interest rates as the Federal Reserve meets this week have raised the hopes of many consumers reeling from record inflation rates in the wake of the recovery from COVID-19 shutdowns. But analysts at Industrial Info see some disconcerting currents roiling those seemingly smooth waters.