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Consumer Confidence Takes Positive Bounce


Who would have guessed it? Consumer confidence rose slightly in January according to the preliminary index of the Reuters/University of Michigan Survey of Consumers as reported by CNNMoney.com. Despite the bump, consumer confidence remains depressed, with continued expectations of a deep and long recession.

January's preliminary index was 61.9, up from 60.1 in December. The reading exceeded economists' expectations and was the highest since September, CNNMoney reports.

But consumer confidence, "continued to hover near its half-century low, showing no signs of significant change during the past six months," the report stated. Click to read the CNNMoney story.