The Conference Board’s Consumer Confidence Index declined in February, falling 5.6 points to 92.2, after increasing in the previous two months.
The Present Situation Index fell 4.5 points to 112.1, while the Expectations Index fell 6.4 points to 78.9 in February.
“Consumers’ short-term outlook grew more pessimistic, with consumers expressing greater apprehension about business conditions, their personal financial situation, and to a lesser degree labor market prospects,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Continued turmoil in the financial markets may be rattling consumers, but their assessment of the current conditions suggests the economy will continue to expand at a moderate pace in the near-term.”
Read The Conference Board release.