Consumer confidence grows for second straight month

In what may be a sign of a rebounding economy, The Conference Board’s Consumer Confidence Index increased in January for the second straight month. The index reached 97.3, up from December’s index of 94.6. “While the economy has not turned around yet,” says Lynn Franco, director of the New York-based Conference Board’s research center, “the worst may be over.”

Also somewhat promising is consumers’ economic outlook regarding six months ahead. Of the 5,000 consumers polled in January, 25% are optimistic that economic conditions will improve in the second half of the year, up from 22% in December. At the same time, less than 10% fear conditions will worsen, compared to nearly 12% in December.