Consumer Confidence Index Rebounds During February
The Conference Board Consumer Confidence Index, which had declined in January, rebounded in February. The index now stands at 69.6 (1985=100), up from 58.4 in January. The Present Situation Index increased to 63.3 from 56.2. The Expectations Index improved to 73.8 from 59.9 last month.
Consumers’ assessment of present day conditions improved in February. Those claiming business conditions are “good” rose to 18.1% from 16.1%, while those stating business conditions are “bad” decreased to 27.8% from 28.4%. Consumers’ appraisal of the labor market was mixed. Those saying jobs are “plentiful” increased to 10.5% from 8.5%, while those claiming jobs are “hard to get” edged up to 37.0% from 36.6%.