US: CB Consumer Confidence Index drops to 120.2 in January from 126.6 in December

"The Conference Board Consumer Confidence Index® decreased in January, following a decline in December. The Index now stands at 120.2 (1985=100), down from 126.6 in December," the Conference Board reported on Tuesday.

Key takeaways from the press release

• The Present Situation Index declined marginally, from 169.9 to 169.6.
• Consumers’ optimism about the short-term future was more pessimistic in January.
• Consumers’ outlook for the labor market was also less favorable.