In its monthly publication, the Conference Board reported that the Consumer Confidence Index rose to 131.4 in February from 121.7 in January. “The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – improved, from 170.2 to 173.5,” the CB said.
Key quotes
- The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 89.4 last month to 103.4 this month.
- The proportion expecting more jobs in the months ahead increased from 15.3 percent to 18.5 percent, while those anticipating fewer jobs declined, from 16.2 percent to 12.2 percent.
- Regarding their short-term income prospects, the percentage of consumers expecting an improvement rose from 17.7 percent to 20.0 percent, but the proportion expecting a decrease also increased, from 6.8 percent to 8.5 percent.
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