Consumer confidence faltered on news of the shutdown, according to an industry measure.
 
The Conference Board Consumer Confidence Index® for January posted a 120.2 reading, a departure from 126.6 the month prior.
 
The Expectations reading, which assesses attitudes on business, employment and income prospects six months out, regressed to 87.3, while the Present Situation reading, which assesses attitudes on conditions currently, slightly slipped to 169.6.
 
"Consumer confidence declined in January, following a decrease in December," said Lynn Franco, senior director of Economic Indicators at The Conference Board, in a statement. "The Present Situation Index was virtually unchanged, suggesting economic conditions remain favorable. Expectations, however, declined sharply as financial market volatility and the government shutdown appear to have impacted consumers. Shock events such as government shutdowns tend to have sharp, but temporary, impacts on consumer confidence. Thus, it appears that this month's decline is more the result of a temporary shock than a precursor to a significant slowdown in the coming months."
 
Source: The Conference Board

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