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

Countdown: Supporting characters that need their own movie

From left: Jon Gries (Uncle Rico), Jon Heder (Napoleon Dynamite) and Aaron Ruell (Kip) in "Napoleon Dynamite," a comedy about a quirky teenager growing up in the remotes of Idaho, trying to understand his life.

Which of these supporting characters should have their own movies?

in Music

Shania Twain will end her Vegas run in December

shania

The country star will end a two-year Vegas residency later this year.

in Entertainment

Zach Braff: Not dating Taylor Swift

zachbraff

The "Scrubs" star says he isn't dating the "Love Story" hitmaker.

in Entertainment

You can watch every episode of ‘The Simpsons’ in epic marathon

simpsons

A Web site and app features on-demand access to all 500 episodes and let users search through the life stories of the characters.

in Viral Videos

Honest ‘Forrest Gump’ trailer

Updated
Honest Forrest Gump

Take an honest look at the film that beat "Pulp Fiction," and "The Shawshank Redemption" for Best Picture in 1994.