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- U.S. consumer confidence improves more than forecast in February
U.S. consumer confidence improves more than forecast in February
The Conference
Board announced on Tuesday its U.S. consumer confidence rose 2.4 points to 91.3
in February from 88.9 in January.
Economists had
expected consumer confidence to come in at 90.0.
January’s
consumer confidence reading was revised down from the originally estimated 89.3.
The survey
showed that the present situation index increased from 85.5 in January to 92.0 this
month. Meanwhile, the expectations index dropped from 91.2 last month to 90.8
in February.
“After three
months of consecutive declines in the Present Situation Index, consumers’
assessment of current conditions improved in February,” noted Lynn Franco,
Senior Director of Economic Indicators at The Conference Board. “This course
reversal suggests economic growth has not slowed further. While the
Expectations Index fell marginally in February, consumers remain cautiously
optimistic, on the whole, about the outlook for the coming months. Notably,
vacation intentions - particularly, plans to travel outside the U.S. and via
air - saw an uptick this month, and are poised to improve further as
vaccination efforts expand.”
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