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From Home Furnishing Business

February Consumer Confidence Slips

Consumer confidence slid back February from January’s multi-year high.

According to The Conference Board, consumer confidence fell to 96.4 from an upwardly revised 103.8 in January. February’s reading dipped to its lowest reading since September.

The Present Situation Index decreased to 110.2 from January’s 113.9

“After a large gain in January, consumer confidence retreated in February, but still remains at pre-recession levels (September 2007, Index, 99.5). Consumers’ assessment of current conditions remained positive, but short-term expectations declined,” said Lynn Franco, director of economic indicators at The Conference Board. “While the number of consumers expecting conditions to deteriorate was virtually unchanged, fewer consumers expect conditions to improve, prompting a less upbeat outlook. Despite this month’s decline, consumers remain confident that the economy will continue to expand at the current pace in the months ahead.”

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