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)

Latest Headlines

in Local

Americold to Build Key Refrigerated Warehouse in Portland

WGAN IMAGE

The world's largest cold-storage company will build a modern refrigerated warehouse on Portland's waterfront.

in Local

Cops: Intruder Shot by Maine Resident Faces Burglary Charges

handgun

Police in Maine say an intruder has been shot by a home owner during a break-in and is facing burglary charges.

in Local

Maine Charter Schools in High Demand as School Year Starts

GENERIC SCHOOL

Charter schools in Maine are in high demand as the school year gets underway.

in Local

Maine Group Done Collecting Submissions For New Bay Advocate

WGAN IMAGE

An environmental organization is done collecting applications for a new baykeeper to advocate for Casco Bay in Maine.

in Local

Rescued Hiker Recounts Ordeal in Maine’s Baxter State Park

GENERIC HIKING

A 78-year-old hiker from Virginia who went missing in Maine's Baxter State Park says he survived on granola bars, water and his backwoods skills for three days until he was rescued.

Tweets

  • 8h
  • 10h
  • 14h
  • 15h
  • 15h
  • 19h
  • 21h