Conference Board News Release (02/24/15)
The Conference Board Consumer Confidence Index, which had increased in January to 103.8, declined in February to 96.4. The Present Situation Index decreased from 113.9 to 110.2, and the Expectations Index declined from 97.0 to 87.2.
“After a large gain in January, consumer confidence retreated in February, but still remains at pre-recession levels,” says Lynn Franco, director of economic indicators at the Conference Board. “Consumers’ assessment of current conditions remained positive, but short-term expectations declined.”
Consumers were less positive in their assessment of the job market, with the proportion stating jobs are “plentiful” decreasing slightly from 20.7% to 20.5%, and those claiming jobs are “hard to get” increasing from 24.6% to 26.2%. Consumers’ outlook for the labor market was also less optimistic. Those anticipating more jobs in the months ahead decreased from 17.3% to 13.4%.