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This
month marks the fourth month of gains in consumer confidence and
the Economic Optimism Index. The Index moved up 1.8 points (3.0%)
to a score of 60.6, setting a 22-month high.
As
in last month, all three components making up the Index saw improved
scores:
- The
6-month economic outlook rose to 62.8, a 2-point, 3.4%, increase
over last month's score.
-
The 6-month personal financial component set a new high for
itself as it shot up into the mid-sixties range (65.3) with
a 2.5-point, or 3.9% gain over last month's score of 62.8.
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Federal policies had a modest gain of 0.8 points, or 1.6%, over
last month's score of 53.0. It stands at 53.8 in January.
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Of
the 21 key demographic groups tracked, 18 had improved scores
over last month. The four groups with the most positive movement
are:
1. Those aged 18-24 - up 5.5 points, or 9.6%,
from 58.2 to 63.7.
2.
Those living in the South - up 5.3 points, or 9.3%, to
63.3.
3. Those
earning under $30K - up 2.9 points, or 5.7%, to 56.3.
4. Democrats - up 2.8 points, or 5.7%, finally
rising above the neutral level of 50. Democrats' outlook score
went from 48.2 in Dec-03 to 51.0 in Jan-04.
Among the most optimistic of groups are those aged 18-24, whose
6-month economic outlook score shot up 13% (7.1 points) to 61.9
and their 6-month personal financial outlook score also made huge
gains of 9.3% (6.3 points) to reach a score of 74.4. Although
this group tends to be more optimistic than the other age groups
tracked, their exuberance bodes well for the future. |
