Economic Buzz: US Consumer Confidence Dips Slightly In February

23 Feb 2022 , 08:21 AM

US consumer confidence index dipped to 110.5 in February from a downwardly revised 111.1 in January, reflecting a deterioration in consumer expectations, the Conference Board reported on Tuesday. The modest decrease by the consumer confidence index came as the expectations index slipped to 87.5 in February from 88.8 in January. Consumers expecting business conditions to improve edged down to 23.4 percent from 23.6 percent, although those expecting conditions to worsen also fell to 18.1 percent from 19.7 percent. The Conference Board said consumers were also less optimistic about the short-term labor market outlook. Meanwhile, the report showed the present situation index inched up to 145.1 in February from 144.5 in January. Consumers describing current business conditions as good fell to 18.7 percent from 20.0 percent, but those saying conditions are bad also slid to 24.7 percent from 27.4 percent.

Powered by Commodity Insights