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Consumer confidence falls in February

February 26 2014

The Conference Board’s U.S. consumer confidence index fell moderately in February after increasing in January and December. The index now stands at a reading of 78.1 (1985=100).

“Consumer confidence declined moderately in February on concern over the short-term outlook for business conditions, jobs, and earnings,” said Lynn Franco, director of economic indicators at The Conference Board.

“While expectations have fluctuated over recent months, current conditions have continued to trend upward and the present situation index is now at its highest level in almost six years (April 2008, 81.9),” said Franco. “This suggests that consumers believe the economy has improved, but they do not foresee it gaining considerable momentum in the months ahead.”

The number of consumers anticipating more jobs in the months ahead decreased to 13.3 percent in February from 15.1 percent in January, according to the index’s survey; those expecting fewer jobs increased to 20.6 percent from 19.0 percent. However, those saying jobs are “plentiful” increased to 13.9 percent from 12.5 percent, while those saying jobs are “hard-to-get” edged down to 32.5 percent from 32.7 percent.


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