Consumer Confidence in U.S. Falls


Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers

The Conference Board’s confidence index declined to 46, from a revised 56.5 in January, a report from the New York-based private research group showed. Concerns about the economy and the labor market pushed an index of current conditions to its lowest in 27 years.

The Conference Board’s measure of present conditions decreased to 19.4 from 25.2 the prior month.

The share of consumers who said jobs are plentiful fell to 3.6 percent from 4.4 percent, according to the Conference Board. The proportion of people who said jobs are hard to get increased to 47.7 percent from 46.5 percent.

The gauge of expectations for the next six months decreased to 63.8, the lowest since July 2009, from 77.3 the prior month.

The proportion of people who expect their incomes to increase over the next six months declined to 9.5 percent from 11 percent. The share expecting more jobs in the next six months fell to 13.4 percent from 15.8 percent.


TradingEconomics.com, Bloomberg
2/23/2010 10:38:02 AM