Bloomberg
Published Feb 25, 2020 15:24
U.S. Consumer Confidence Rises to Six-Month High on Outlook
(Bloomberg) -- U.S. consumer confidence edged up in February to the best level in six months on an improvement in expectations, signaling that solid employment and cheap fuel are helping Americans look past concerns about the spread of the coronavirus.
The Conference Board’s reading increased to 130.7 from a downwardly revised 130.4 in January, according to data from the New York-based group Tuesday that fell short of estimates in Bloomberg’s survey of economists. The economic expectations measure climbed to a seven-month high that barely offset the weakest reading for the present situation in eight months.
Key Insights
“Consumers continue to view current conditions quite favorably,” Lynn Franco, senior director of economic indicators at the Conference Board, said in a statement. “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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Written By: Bloomberg
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