In January, consumer confidence in the USA fell for the first time in the past six months due to a weakening labor market and the potential rise in goods prices.
Economic uncertainties remain at the center of attention, which is reflected in the consumers' sentiments in the country. As a result, the consumer confidence index dropped from 87.1 in December to 97.2 in January. Economists forecast a decline to 95.1.
"Consumers' opinions on the current situation have noticeably worsened, which is partly related to the weakened labor market," analysts noted. At the same time, they have become more pessimistic about the prospects for the coming months.
"The slow recovery of the labor market, inflation, and overall economic uncertainty are putting pressure on consumer confidence," added the experts.
