US consumer confidence has collapsed to its weakest level in more than a decade, outstripping its pandemic lows and fuelling concerns about the health of the world’s biggest economy.
The Conference Board’s consumer confidence index fell to 84.5 in January, well below market expectations and the lowest since May 2014.
“Confidence collapsed in January, as consumer concerns about both the present situation and expectations for the future deepened,” said Dana Peterson chief economist at the Conference Board, a think-tank.
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