Increasing Consumer Confidence

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Consumer confidence leapt in February, posting a 130.8 reading in the latest Consumer Confidence Index® from The Conference Board.

The percentage of those who expect business conditions to improve increased from 21.5 percent in January to 25.8 percent in February; the percentage of those who expect business conditions to worsen decreased from 9.8 percent in January to 9.4 percent in February.

People have a more positive outlook on the job market in the coming months. The percentage of consumers who believe jobs are “Plentiful” increased from 37.2 percent in January to 39.4 percent in February, according to the Index; the percentage of those who believe jobs are “Hard to get” decreased from 16.3 percent in January to 14.7 percent in February.

The percentage of those who expect more jobs in the coming months increased from 18.7 percent in January to 21.6 percent in February; the percentage of those who expect less jobs in the coming months decreased from 12.5 percent in January to 11.9 percent in February.

Consumers believe incomes are also on the rise. The percentage of consumers who expect higher incomes increased from 20.6 percent in January to 23.8 percent in February; the percentage of those who expect a decrease also increased, from 7.9 percent in January to 8.6 percent in February.

“Consumer confidence improved to its highest level since 2000 (Nov. 2000, 132.6) after a modest increase in January,” said Lynn Franco, director of Economic Indicators at The Conference Board.”

 

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