Consumer Confidence rebounded in February after three months of consecutive declines, according to The Conference Board’s Consumer Confidence Index. Consumers continue to view both business and labor market conditions favorably.

The index rose to a reading of 131.4 (1985=100), up from 121.7 in January.

“Expectations, which had been negatively impacted in recent months by financial market volatility and the government shutdown, recovered in February,” said Lynn Franco, senior director of economic indicators at The Conference Board. “Looking ahead, consumers expect the economy to continue expanding. However, according to The Conference Board’s economic forecasts, the pace of expansion is expected to moderate in 2019.”

A survey for the index found that more consumers, 19.7%, expect business conditions to improve over the next six months, up from 16.3% in the previous month’s survey. In addition, the percent of consumers expecting business conditions to worsen fell to 8.9% from 13.8% in the previous survey.

Consumers’ outlook for the labor market was also more favorable. The survey found 18.5% expect more jobs in the months ahead, up from 15.3% in the previous survey. And a smaller percentage, 12.2%, believed there will be fewer jobs in the months ahead compared to the previous survey, which found 16.2% believed there will be fewer jobs.

Consumers stating that jobs were “plentiful” edged down to 46.1% in February from 46.7% in January, while those claiming jobs are “hard to get” also fell to 11.8% from 12.6%.