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

1 hour ago in Local

Fees Raised for Camping at Maine State Parks

Fresh
GENERIC CAMP

Fees for camping at state parks have been raised by the Maine Department of Agriculture, Conservation, and Forestry for the first time in 14 years.

1 hour ago in Local

Nonprofit Works to Make Sure Students Don’t Go Hungry

Fresh
GENERIC FOOD PANTRY LARGE

A local nonprofit is working to ensure that students in the South Portland area don't go hungry during an upcoming break in classes.

8 hours ago in Local

Lobster Licensing Hearing Today

LOBSTERS2

AUGUSTA, Maine (AP) Maine lobstermen are set to debate the possibility of potentially controversial changes to the state's lobster licensing laws.

8 hours ago in Local

Man Sentenced For Child Porn

Justin Nichols

AUGUSTA, Maine (AP) A Mainer has been sentenced to less than a month in prison after he admitted to possessing sexually explicit materials of minors under 16.

10 hours ago in Local

Is Maine Covering Up Hazardous Rail Cargo

Smoke rises from railway cars that were carrying crude oil after derailing in downtown Lac Megantic, Quebec, Canada, Saturday, July 6, 2013. A large swath of Lac Megantic was destroyed Saturday after a train carrying crude oil derailed, sparking several explosions and forcing the evacuation of up to 1,000 people. (AP Photo/The Canadian Press, Paul Chiasson)

Bangor ME (WGAN) - There's evidence that Maine officials and lawmakers conspired with the railroad companies to hide info on the shipment of oil and other hazardous substances through the state.

Tweets

  • 1h
  • 1h
  • 22h
  • 25h
  • 26h
  • 31h
  • 32h