Consumers confidence rose in January compared with a month earlier, the Conference Board said Tuesday. The reading signals that Americans are so far brushing off gyrations in the financial markets.
The group's index of consumer confidence rose to 98.1 this month from a revised 96.3 in December. Measures of consumers' outlook on current conditions were unchanged, while their view on future conditions improved.
"For now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy," said Lynn Franco, director of economic indicators at The Conference Board.
Measures of consumers' feelings are being closely watched for signs that a slide in financial markets is rattling shoppers. With turmoil throughout the global economy, consumers will be relied upon to drive U.S. growth early this year.