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23.02.2021 23:16

U.S. consumer confidence improves more than forecast in February

The Conference Board announced on Tuesday its U.S. consumer confidence rose 2.4 points to 91.3 in February from 88.9 in January.

Economists had expected consumer confidence to come in at 90.0.

January’s consumer confidence reading was revised down from the originally estimated 89.3.

The survey showed that the present situation index increased from 85.5 in January to 92.0 this month. Meanwhile, the expectations index dropped from 91.2 last month to 90.8 in February.

“After three months of consecutive declines in the Present Situation Index, consumers’ assessment of current conditions improved in February,” noted Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “This course reversal suggests economic growth has not slowed further. While the Expectations Index fell marginally in February, consumers remain cautiously optimistic, on the whole, about the outlook for the coming months. Notably, vacation intentions - particularly, plans to travel outside the U.S. and via air - saw an uptick this month, and are poised to improve further as vaccination efforts expand.”


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