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

We’re going to keep on ‘Keeping Up’ with Kardashians

kimkardashian

Reality TV's most famous family is sticking around for four more years.

in Viral Videos

What it would sound like if Ice T voiced cartoons

14-overlay5

"Scooby Doo" and "Dora the Explorer" would sound a whole lot different.

in Viral Videos

2-year-old sings National Anthem, makes America better

12-overlay7

Adorable Trent Harris singing the "Star Spangled Banner" before the start of a high school basketball game will make you proud to be an American.

in Entertainment, Weird

Forget the Double-Down, KFC launches edible coffee cups

kfccup

Kentucky Fried Chicken is testing edible coffee cups in some of its stores. Maybe next they'll try edible chicken.

in Entertainment

Drew Barrymore plans tell-all book of essays

barrymore

The "Charlie's Angels" star will lift the lid on the details of her wild youth and Hollywood career.