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25.02.2020 23:11

U.S. consumer confidence improves marginally in February

The Conference Board announced on Tuesday its U.S. consumer confidence gauge rose 0.3 points to 130.7 in February from a 130.4 in January.

Economists had expected consumer confidence to come in at 132.0.

January's consumer confidence reading was revised down from originally estimated 131.6.

The survey showed that the expectations index rose from 101.4 last month to 107.8 this month, while the present situation index fell from 173.9 to 165.1.

Lynn Franco, Senior Director of Economic Indicators at The Conference Board, noted: "Consumer confidence improved slightly in February, following an increase in January. Despite the decline in the Present Situation Index, consumers continue to view current conditions quite favorably. Consumers' short-term expectations improved, and when coupled with solid employment growth, should be enough to continue to support spending and economic growth in the near term."


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