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

6 hours ago in Viral Videos

An honest trailer for ‘X-Men: The Animated Series’

16-overlay-9

Before you see "X-Men: Apocalypse," relive the '90s cartoon that you still remember - and the theme song that you can't get out of your head.

7 hours ago in Entertainment

Judge denies motion for new Gawker-Hulk Hogan trial

hulk84135568722

A Florida judge has denied Gawker's motion for a new trial in the Hulk Hogan sex-video case and won't reduce a $140 million jury verdict.

13 hours ago in Entertainment

Depp back as Mad Hatter in ‘Alice Through the Looking Glass’

22-overlay-3

The movie follows on from the 2010 box office hit "Alice in Wonderland," which starred Depp alongside Australian actress Mia Wasikowska as the titular heroine and Oscar nominee Helena Bonham Carter as the Red Queen.

13 hours ago in Weird

When police are chasing one of their own

15-overlay-12

This is one story that gives whole new meaning to the idea of a police chase.

13 hours ago in Sports

Super Bowls awarded

goodell16145779127383

The NFL has awarded the 2019 through 2021 Super Bowls to three cities that have significant financial investments in new stadiums or recently upgraded an existing one.