Customer self-confidence increased less than expected in February as individuals’s evaluation of existing conditions fluctuated, data launched Tuesday by The Conference Board showed.
The consumer self-confidence index can be found in at 130.7, up from 130.4 in January. Economists surveyed by Dow Jones anticipated a print of 132.6. The Conference Board’s present scenario index, which accounts for customers’ evaluation of the current business and labor environment, dropped to 165.1 from 173.9 in January.
The confidence index’s weaker-than-forecast print comes a day after the stock exchange had its worst day in two years, with the Dow Jones Industrial Average falling more than 1,000 points, amid issues over the coronavirus’ influence on the global economy.
” In spite of the decline in today Situation Index, consumers continue to see present conditions quite positively,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a statement. “Consumers’ short-term expectations enhanced, and when combined with strong employment growth, must suffice to continue to support costs and financial growth in the near term.”
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source https://jobsearchtips.net/consumer-confidence-increases-less-than-anticipated-in-february/
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