ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Economy

Consumer Sentiment Remains Strong in January

January 31, 2020
Reading Time: 1 min read

Consumer Sentiment increased 0.5 points in January to 99.8, according to the University of Michigan Consumer Sentiment Index. January’s figure is 9.4 points above the January 2019 index. The Current Economic Conditions Index fell 1.0 point to 114.4. However, the reading was 5.1 points above the January 2019 index. The Consumer Expectations Index rose 1.8 points to 90.5 and was 13.3 points higher than a year ago.

“Consumer sentiment remained at very positive levels, with the January reading of 99.8 insignificantly below the cyclical peak of 101.4. The maintenance of consumer sentiment near cyclical peak levels is surprising given the overall slow pace of economic growth, which was accompanied in January by renewed military engagements in the Mideast, an impeachment trial in the Senate, and a fast spreading coronavirus. The resilience of consumers is remarkable and due to record low unemployment, record gains in income and wealth, as well as near record lows in inflation and interest rates,” said Richard Curtin, chief economist of UM Surveys of Consumers.

“Gains in personal finances were reported by 53% of all consumers in January, exactly equal to the 2018 and 2019 averages–the highest two years in the past half century. Combined net changes in household income and wealth were cited in 40% of all mentions in January, comparable to the 1966 and 2000 peaks (see the chart). The data currently point toward consumer spending maintaining positive growth in the economy as a whole. Nonetheless, as the presidential primaries begin, consumers will have to evaluate the impact on their own finances from the range of fundamental changes in tax and spending programs advocated by the various candidates.”

Read the University of Michigan Surveys of Consumers release.

ShareTweetPin

Author

Tyler Mondres

Tyler Mondres

Tyler Mondres is senior director of economic research at ABA and a frequent contributor on economic and fintech topics to the ABA Banking Journal.

Related Posts

NAHB Home Builder Confidence

Economy
November 18, 2025

Builder confidence in the market for newly built single-family homes was 38 in November, up one point from October, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. “While lower mortgage...

Report: Republicans push back against proposed cuts to CDFI Fund

Trump administration rescinds CDFI Fund staff layoffs

Community Banking
November 18, 2025

The Trump administration has rescinded reduction-in-force notices sent to the employees of the CDFI Fund during the government shutdown.

Fed, FDIC withdraw statements on managing risks for crypto

OCC allows banks to hold crypto to cover related fees

Newsbytes
November 18, 2025

The OCC issued an interpretive letter stating that national banks are permitted to hold small amounts of crypto assets, as principal, to pay fees used to cover transaction costs on cryptocurrency networks.

ABA survey: Bank apps continue to be most popular option among customers

ABA survey: Bank apps continue to be most popular option among customers

Newsbytes
November 18, 2025

The national survey found that consumers continue to embrace digital banking channels, with baby boomers increasingly turning to apps to manage their accounts.

FDIC: Number of unbanked households drops to new low

ABA shares deposit insurance reform recommendations with House lawmakers

Newsbytes
November 17, 2025

ABA shared a list of possible deposit insurance reforms with lawmakers ahead of a House Financial Services Committee hearing on the topic.

FDIC proposes tying agency regulatory thresholds to inflation

CSBS: Data show regulatory burden falls hardest on community banks

Community Banking
November 17, 2025

Ten years of survey data from banks show that the cost of regulatory compliance eats up a larger percentage of resources for smaller community banks than it does for larger banks, according to a recent report by the...

NEWSBYTES

NAHB Home Builder Confidence

November 18, 2025

Trump administration rescinds CDFI Fund staff layoffs

November 18, 2025

OCC allows banks to hold crypto to cover related fees

November 18, 2025

SPONSORED CONTENT

Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

November 1, 2025
5 FedNow®  Service Developments You May Have Missed

5 FedNow® Service Developments You May Have Missed

October 31, 2025

Cash, Security, and Resilience in a Digital-First Economy

October 20, 2025
Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

October 1, 2025

PODCASTS

Podcast: The Erie Canal at 200

November 6, 2025

Podcast: Why branches are top priority for PNC

October 23, 2025

Podcast: From tractors to drones, how farming tech affects ag lending

October 16, 2025

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.