Index of Consumer Confidence Inches Higher in January
ANN ARBOR, Mich. — Consumer confidence continued to rise in January, and the fear of an imminent recession because of the October stock market crash has been alleviated, a University of Michigan survey said Sunday.
The survey, conducted by the university’s Institute for Social Research, also found that consumers remained concerned about the long-term vitality of the economy.
The ISR Index of Consumer Sentiment rose to 90.8% in January from 86.8% in December and 83.1% in November. In January, 1987, the index was 90.4%.
For the long term, nearly 47% of those families polled expected good times financially in 1988, while 37% expected the economy to be bad, the survey said.
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