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)

News

in National

PHOTOS: Scenes from the storm

Fresh
AP278999665965_11

Some of our favorite photos and tweets from #Snowmageddon2015.

in Entertainment

‘Selma’ director DuVernay to make Katrina film

Fresh
selma

Ava DuVernay, the director behind the Oscar-nominated MLK, Jr. biopic plans a feature film set in the time of Hurricane Katrina.

in National

‘Life-threatening’ blizzard bears down on East Coast

Fresh
nypdsnow

A potentially historic snowstorm has canceled flights, shuttered schools and businesses, and threatens millions of Americans.

in National

Gov’t to overhaul Medicare payments to doctors, hospitals

Fresh
medicare

The Obama administration is unveiling what it calls a historic shift in the way Medicare pays hospitals and doctors.

in Trending, Viral Videos

TODAY’S MUST SEE: ‘Dear Kitten:’ Cats explain the Big Game

Fresh
25-overlay8

One day a year, things get weird ... but your cats have a game plan all their own.