Consumer Confidence Increases to Its Highest Level Since Last February
The Conference Board’s Consumer Confidence Index, which had decreased in January, increased in February. The index now stands at 70.8 (1985=100), up from 61.5 in January. The Present Situation Index increased to 45.0 from 38.8. The Expectations Index rose to 88.0 from 76.7 in January.
Consumers’ assessment of current conditions was more favorable in February. Those claiming business conditions are “good” increased slightly to 13.3% from 13.2%, while those claiming business conditions are “bad” decreased to 31.2% from 38.3%.