A Conference Board research released Tuesday, consumers’ concerns about a sluggish economy and rising inflation made them more gloomy about the economic future in February.
The board’s Consumer Confidence Index fell 7 points to 98.3 for the month, which was less than the Dow Jones prediction of 102.3.
The monthly decline was the biggest since August 2021 and the lowest since June 2024. Views on the state of the labour market have deteriorated.
Stephanie Guichard, the board’s senior economist for global indicators, consumers lost hope for future earnings and grew more gloomy about business circumstances.
“The level of pessimism regarding future employment prospects increased and peaked ten months ago.”
Source (CNBC)
