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 Entertainment

This weekend in entertainment history

randy-travis

A look back at some of the Hollywood headlines that went down in history.

in Entertainment

REVIEW: Surprising talent creates weird onscreen magic in ‘Foxcatcher’

This image released by Sony Pictures Classics shows Channing Tatum, left, and Mark Ruffalo in a scene from "Foxcatcher."

Sibling rivalry, loneliness, competition and madness fuel director Bennett Miller’s award-worthy true crime tale Foxcatcher.

in Entertainment

REVIEW: ‘Wild’ is both unsettling and triumphant

This image released by Fox Searchlight Pictures shows Reese Witherspoon in a scene from the film, "Wild."

Reese Witherspoon leaves her comfort zone as real-life hiker Cheryl Strayed in "Wild."

in Music

This week’s top pop songs

taylorswift

LISTEN: This week's top pop songs, according to the latest Billboard chart.

in Music

This week’s top R&B tracks

treysongz

LISTEN: This week's top R&B tracks, according to the latest Billboard chart.