Consumer Sentiment Improves Slightly in January

Ann Arbor, MI, Jan. 16, 2009--Consumer sentiment rose in early January to a reading of 61.9 from 60.1 in late December, according to the Reuters/University of Michigan Surveys of Consumers.
 
Analysts were looking for a January result of 59. While sentiment remains at relatively low levels, lower prices have provided some relief, even as worry persists over ongoing job losses.

"Consumer confidence continued to hover near its half-century low, showing no signs of significant change during the past six months," the report said.

"Consumers cited even more negative income prospects as well as anticipated further declines in the value of their homes and pension accounts," according to the report.

One-year inflation expectations rose in January to 2.0 percent from 1.7 percent in December.

The index of current conditions eased slightly to 69.2 in January from 69.5 in December, while the index of consumer expectations rose to 57.2 from 54.0.