By Ruth Mantell
WASHINGTON (MarketWatch) -- After dropping in December, a gauge of consumer confidence is expected to decline further in January, hitting the lowest level in five months, due to higher payroll taxes and fiscal uncertainties, according to economists surveyed by MarketWatch. The Conference Board's barometer of consumer confidence is expected to decline to 64.3 in January from 65.1 in December. Confidence dropped in December as short-term expectations plunged on fiscal-cliff concerns. While U.S. lawmakers avoided the fiscal cliff, analysts expect that ongoing negotiations over spending have continued to weigh on consumers. Along with higher payroll taxes, these negative factors are expected to more than offset recent positive news on the labor market. Generally when the economy is growing at a good clip, confidence readings are at least 90. The Conference Board, a New York research group, will release January's consumer confidence report at 10 a.m.
