Basis Points U.S. consumer confidence jumped again in January, easily beating expectations as inflation expectations dip further. The preliminary reading Friday of the University of Michigan's confidence index climbed to 78.8 points from 69.7 in December. Economists polled by The Wall Street expected a 70.2 reading. (Dow Jones Newswires) Canadians shoppers look to have opened their wallets during the holiday season after cutting back on spending at retailers in the lead-up. Retail sales rose 0.8% in December, according to Statistics Canada's advance estimate of receipts released Friday. That comes after sales in November retreated 0.2%. (DJN) Chinese consumers continue to reduce spending on luxury goods amid concerns about the economic environment, Barclays analysts say, citing a survey in partnership with Vogue Business. During the fourth quarter of 2023, the percentage of consumers with a higher budget spent on luxury decreased to 17% from 21% in the previous three months, Barclays says. (DJN) Malaysia's central bank is expected to maintain its benchmark overnight policy rate at 3.00% at its January policy meeting, according to all nine economists polled by The Wall Street Journal. The central bank's decision is due Wednesday. (DJN) Feedback Loop

This newsletter is compiled by James Christie in San Francisco.

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This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

01-22-24 0715ET