The Consumer Confidence Index was 106.7 in February, down from 110.9 in January, the Conference Board said today. The present situation index—based on consumers’ assessment of current business and labor market conditions—decreased to 147.2 from 154.9 the previous month. The expectations index—based on consumers’ short-term outlook for income, business and labor market conditions—fell to 79.8 from 81.5 in January.
“The decline in consumer confidence in February interrupted a three-month rise, reflecting persistent uncertainty about the U.S. economy,” said Dana Peterson, chief economist at the Conference Board. “The drop in confidence was broad-based, affecting all income groups except households earning less than $15,000 and those earning more than $125,000. Confidence deteriorated for consumers under the age of 35 and those 55 and over, whereas it improved slightly for those aged 35 to 54.”
