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

today in Entertainment

Today in entertainment history: April 16

cronkite

A look at the Hollywood headlines of years past.

yesterday in Viral Videos

How ‘Frozen’ Should Have Ended

How Frozen Should Have Ended

This "alternative ending" would have made Frozen a COMPLETELY different movie!

yesterday in Lifestyle

US Airways investigating pornographic tweet sent to complaining customer

airplane

The apology has been retweeted more than 13,000 times and social media was flooded with jokes and gripes about the image.

yesterday in Music

George Jones’ wife plans celebration on anniversary of his death

georgejones

Family, friends, and fans will gather at Jones' grave in Nashville's Woodlawn Cemetery to honor his legacy.

yesterday in Entertainment

Hilary Duff to star in first TV series in a decade

hilaryduff

Hilary Duff will star in a new comedy from the man behind "Sex and the City."