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)

Latest News

in Entertainment

Margot Robbie might be real-life Barbie

margotrobbie

"The Wolf of Wall Street" star is film bosses' first choice to play the beloved blonde doll in a new live action movie.

in Lifestyle, National

Google is dropping fat stacks of cash in Washington

google

Google's growing investment in lobbying highlights its expanding presence as it fights antitrust battles and grows its business into new areas such as broadband and self-driving cars.

in Music

Pilgrimage fest to pay homage to history

sherylcrow

A new music festival is heading to Nashville.

in Albemarle County, Charlottesville City, Local, Surrounding Counties

CAAR Raising Pipeline Concerns

CAAR Logo .jpg

The group representing local real estate agents has raised some concerns about the Dominion pipeline.