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1/29/2013 10:15:00 AM Write a Letter to the Editor Write a letter to the Editor

Consumer Confidence Drops in January

Consumer confidence dropped in January, the New York-based Conference Board said Tuesday.

The group’s monthly index fell to a reading of 58.6, the weakest since November 2011, from a revised 66.7 in December that was higher than originally reported.

Economists had forecast a reading of 64, Bloomberg reported.

An improvement in confidence may increase consumer spending, which accounts for 70% of the economy.

By Transport Topics

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