World Conference on Large Enterprises: US Consumer Confidence 'plummets'

According to preliminary survey data released by the World Conference on Large Enterprises, a research institution in the United States, on January 27th, the consumer confidence index in the United States dropped significantly from the revised 94.2 in December last year to 84.5, the lowest level since May 2014.

Among the components of the index, the consumer evaluation index of current business and job market conditions in January significantly decreased by 9.9 to 113.7. The Consumer Expectations Index, which reflects short-term income prospects, business and employment market environment, fell 9.5 to 65.1, and has been below the critical point of 80, which usually indicates an economic recession, for 12 consecutive months.

Dana Peterson, Chief Economist of the World Association of Large Enterprises, said that "due to deepening consumer concerns about current and future expectations, consumer confidence plummeted in January," and all five components of the Consumer Confidence Index deteriorated, pushing the index to its lowest level since May 2014.