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 Black Friday, Lifestyle, National

Does your state have a ‘miserable’ Thanksgiving?

fight

If you live in Ohio, Iowa, or Maine, your Thanksgiving might be more 'fight' than 'festive.'

in National

Obama seeks to build Congress support for immigration reform

immigration

The changes could allow as many as 5 million undocumented people to come out of the shadows and into American society.

in National

Minivan crash tests: Toyota tops, Nissan, Dodge poor

minivans

Four of the top-selling models were crash tested and only one faired well.

in Entertainment

Award-winning director Mike Nichols dead at 83

nichols

The Oscar-winning director of "The Graduate" and "Carnal Knowledge," has died.

in National

Lawmakers want auto workers to report faulty parts

airbag

Senators plan to introduce legislation to encourage employees to report information on faulty parts to federal authorities.