Consumer Confidence Declined for Second Consecutive Month in February
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Consumer Confidence Declined for Second Consecutive Month in February

February 23, 2022 | Chart

The Conference Board Consumer Confidence Index® fell slightly in February, after a decrease in January. The Index now stands at 110.5 (1985=100), down from 111.1 in January.

The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved, suggesting the economy continued to expand in Q1 but did not gain momentum. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions— weakened further, pointing to a likely moderation in growth over the first half of 2022.

Meanwhile, concerns about inflation rose again in February, after posting back-to-back declines. Despite this reversal, consumers remain relatively confident about short-term growth prospects. While they do not expect the economy to pick up steam in the near future, they also do not foresee conditions worsening. Nevertheless, confidence and consumer spending will continue to face headwinds from rising prices in the coming months.

For more information about the latest reading of the Consumer Confidence Index®, please visit our website.

AUTHOR

LynnFranco

Former Senior Director, Economic Indicators and Surveys
The Conference Board


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