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)

Recent Headlines

in Local

State assembly candidates debate in Ithaca

Fresh
IMG_2962

Herb Masser, a Republican, is looking to unseat Ithaca assemblywoman Barbara Lifton.

in Sports

NFL: Legal process will play role in punishments

nfl

Punishment for players implicated in domestic violence will not be imposed upon arrest but at some point "farther down the process."

in National

Ebola czar starts work, drugmakers launch vaccine drive

ebola

The Obama administration is ramping up its response to the potential spread of the virus.

in National, World

Canadian parliament attacked, soldier fatally shot

canadashooting

A gunman shot a soldier and then entered the country's parliament buildings, with at least 30 shots fired in dramatic scenes in the heart of the Canadian capital.

in Local

Oklahoma senator releases report on waste in government, cites Ithaca SWAT team funding

money

Tom Coburn's report questions need for SWAT funding for Ithaca, citing crime rates in town