News

Consumer confidence falls in February

Consumer confidence falls in February

CONSUMER CONFIDENCE: The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0. Photo: Reuters

NEW YORK (Reuters) – Consumer confidence sagged in February as expectations worsened, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0.

The expectations index fell to 75.7 from a downwardly revised 80.8 last month. But the present situation index rose to 81.7, the highest since April 2008. January’s reading was revised to 77.3.

“While expectations have fluctuated over recent months, current conditions have continued to trend upward,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement. “This suggests that consumers believe the economy has improved, but they do not foresee it gaining considerable momentum in the months ahead.”

The “jobs hard-to-get” index was 32.5 in February compared with a revised 32.7 in January. Consumers’ one-year inflation expectation was 5.2 percent, compared with 5.1 percent last month.

(Reporting by Steven C. Johnson; Editing by Chizu Nomiyama)

Recent Headlines

in Music

Fans warned about fake Drake tickets

Fresh
drake

A promoter has reportedly been selling bogus tickets for a tour this spring.

in Entertainment

Peeps milk coming to an Easter basket near you

peeps

Because why shouldn't milk taste more like marshmallows?

in Music

Miley Cyrus isn’t pregnant and she has the ultrasound pic to prove it

mileycyrus

The "Wrecking Ball" hitmaker says she is not expecting.

in Music

Pharrell says he didn’t copy Marvin Gaye in ‘Blurred Lines’

thickepharrell

"Blurred Lines" was 2013's biggest hit and earned more than $16 million in profits.

in Music

Missy Elliott headlining Essence Festival

missyelliott

The rapper will join Usher, who last headlined the festival's main stage in 2011.