Consumer Intentions on Buying New TV Sets Dropped Sharply in January, Conference Board Says

Consumer intentions to buy TV sets dropped sharply in January from December, said preliminary data released Tuesday by the Conference Board. Of 5,000 consumers canvassed in January, 11.7 percent said they plan to buy new TV sets in the next six months compared with 13.2 percent in December, 15.3 percent in November and 12.5 percent in January 2014, the Conference Board said. However, the Conference Board's Consumer Confidence Index rose sharply in January to 102.9 from 93.1 in December. That the index reached its highest level since August 2007 reflected "a more positive assessment of current business and labor market conditions," the Conference Board said. "Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings."