The Conference Board Consumer Confidence Index fell slightly for the second month in a row, signaling a possible moderation in growth in the first half of this year. The index now stands at a level of 110.5 this month compared with 111.1 in January.

“Concerns about inflation rose again in February, after posting back-to-back declines,” said Lynn Franco, senior director of Economic Indicators at The Conference Board. “Despite this reversal, consumers remain relatively confident about short-term growth prospects. While they do not expect the economy to pick up steam in the near future, they also do not foresee conditions worsening. Nevertheless, confidence and consumer spending will continue to face headwinds from rising prices in the coming months.”

Here are consumers’ view on the current climate as well as their outlook for the coming six months.

Present Situation

Consumers’ appraisal of current business conditions was mixed in February.

• 18.7% of consumers said business conditions were “good,” down from 20.0% in January.
• However, 24.7% of consumers said business conditions were “bad,” down from 27.4% in January.

Consumers’ assessment of the labor market was also mixed.

• 53.8% of consumers said jobs were “plentiful,” down from 55.0% in January but still a historically strong reading.
• However, 11.8% of consumers said jobs are “hard to get,” down from 12.0% in January.

Six-Month Outlook

Consumers’ optimism about the short-term business conditions outlook eased in February.

• 23.4% of consumers expect business conditions will improve, slightly down from 23.6% in January.
• However, 18.1% expect business conditions to worsen, down from 19.7% in January.

Consumers were also less optimistic about the short-term labor market outlook.

• 21.3% of consumers expect more jobs to be available in the months ahead, down from 22.1% in January.
• 17.9% anticipate fewer jobs, up from 16.6% in January.

Consumers were less positive about their short-term financial prospects.

• 15.7% of consumers expect their incomes to increase, down from 16.2% in January.
• 12.1% expect their incomes will decrease, unchanged from last month.