ECON: Consumer Confidence Much Higher Than Expected
- RTRS - February Consumer Confidence Index 70.8 Vs January Revised 61.5 (Previous 61.1)
- RTRS - Median Forecast From Reuters For February Was 63.0
- RTRS - Present Situation Index In Feb 45.0 Vs Jan Revised 38.8 (Previous 38.4)
- RTRS - Expectations Index 88.0 In Feb Vs Jan Revised 76.7 (Previous 76.2)
- RTRS - Jobs Hard-To-Get Index 38.7 In Feb Vs Jan Revised 43.3 (Previous 43.5
- RTRS - 1-Year Inflation Expectations 5.5 Pct In Feb Vs Jan 5.5 Pct
- RTRS - Confidence And Expectations Index At Highest Since Feb 2011
- RTRS - Jobs Hard-To-Get Index At Lowest Since November 2008
The Conference Board Consumer Confidence Index®, which had decreased in January, increased in February. The Index now stands at 70.8 (1985=100), up from 61.5 in January. The Present Situation Index increased to 45.0 from 38.8. The Expectations Index rose to 88.0 from 76.7 in January.
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was February 15.
Says Lynn Franco, Director of The Conference Board Consumer Research Center: “Consumer Confidence, which had declined last month, posted a sizeable improvement in February. The Index is now close to levels last seen a year ago (Feb. 2011, 72.0.). Consumers are considerably less pessimistic about current business and labor market conditions than they were in January. And, despite further increases in gas prices, they are more optimistic about the short-term outlook for the economy, job prospects, and their financial situation. ”