GO
Loading...

Consumer confidence falls in February

Shoppers outside Macy's in Herald Square, New York.
Adam Jeffery | CNBC
Shoppers outside Macy's in Herald Square, New York.

U.S. consumer confidence sagged in February as expectations worsened, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0.

(Read more: The Fed is 'out of touch' with US economy: Polcari)

The expectations index fell to 75.7 from a downwardly revised 80.8 last month. But the present situation index rose to 81.7, the highest since April 2008. January's reading was revised to 77.3.

"While expectations have fluctuated over recent months, current conditions have continued to trend upward,'' Lynn Franco, director of economic indicators at The Conference Board, said in a statement. "This suggests that consumers believe the economy has improved, but they do not foresee it gaining considerable momentum in the months ahead.''

The "jobs hard-to-get'' index was 32.5 in February compared with a revised 32.7 in January. Consumers' one-year inflation expectation was 5.2 percent, compared with 5.1 percent last month.

(Read more: Survey finds uglytruth about Americans' savings)

--By Reuters

Contact US Economy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More