Consumer confidence dipped for the second straight month as stubborn inflation and anxiety over a potentially slowing economy weighed on Americans.
Bags are displayed in the window of a Kate Spade store in Pittsburgh on Monday, Jan. 30, 2023. On Tuesday, the Conference Board reports on U.S. consumer confidence for February. Bags are displayed in the window of a Kate Spade store in Pittsburgh on Monday, Jan. 30, 2023. On Tuesday, the Conference Board reports on U.S. consumer confidence for February.
WASHINGTON — The Conference Board reported Tuesday that its consumer confidence index slipped to 102.9 in February, from a reading of 106 in January. The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — ticked up to 152.8 from 151.1 last month.
The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — tumbled to 69.7 in February from 76 in January. A reading under 80 often signals a recession in the coming year, the Conference Board said.
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