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The Conference Board this week said that its Consumer Confidence index fell to 120.2 in January from 126.6, and is down almost 18 points since October.

The Wall Street Journal writes that confidence was “likely hit by political discord in Washington, in addition to market and economic uncertainty weighing on U.S. households.”

However, it wasn’t all bad news, the Journal writes: “The data showed Americans are eager to continue spending in the next six months. Plans to buy a home rose to their highest level since the end of 2017. Other categories of planned spending, including car and TV purchases, also remained solid.

“In addition, the share of survey respondents saying that jobs are plentiful remains near multiyear highs. Analysts think the labor market is set to continue creating jobs and spurring wage growth, which encourages consumers and businesses to keep spending.”
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