U.S. consumer confidence ebbs in February
2023.02.28 10:43
© Reuters. FILE PHOTO: A woman carries shopping bags during the holiday season in New York City, U.S., December 21, 2022. REUTERS/Eduardo Munoz
WASHINGTON (Reuters) – U.S. consumer confidence declined again in February, with the decrease concentrated among households making an annual income of $35,000 or more, though Americans grew more upbeat about the labor market, a survey showed on Tuesday.
The Conference Board said its consumer confidence index slipped to 102.9 this month from 106.0 in January. Economists polled by Reuters had forecast the index at 108.5. The survey places more emphasis on the labor market, which remains tight.
“The decrease reflected large drops in confidence for households aged 35 to 54 and for households earning $35,000 or more,” said Ataman Ozyildirim, senior director of Economics at The Conference Board.
The share of consumer viewing jobs as “plentiful” increased back to levels seen in the spring of last year. Consumers’ 12-month inflation expectations fell to 6.3% from 6.7% last month.
