Consumer confidence decreased sharply in February, when more Americans felt uncomfortable with the future situation of the American economy, According to new data issued on Tuesday morning.
The Consumer Confidence Index at the February Council came in reading 98.3, which is a significant decrease in reading 105 in January 105 and the reading palace 102.5 expected by economists.
“In February, consumer confidence has registered the largest monthly decline since August 2021,” said Stephanie Gwechadd, chief economist for global indicators at the conference council. “This is a third consecutive decrease in a row in a month, making the index to the bottom of the range that prevailed since 2022.”
The “current situation index”, which measures consumer evaluation of the current business market and market conditions, decreased to 136.5 in February 139 in January.
The “Expectation Index”, which tracks consumer expectations in the short term of income, business and labor market, and decreased to 72.9 in February 82 last month. Historically, reading is less than 80 in that category indicates stagnation next year. This was the first time since June 2024 that the index came below that threshold.
Meanwhile, the average inflation forecast for 12 months jumped from 5.2 % to 6 % in February.
“This increase is likely to reflect a mixture of factors, including sticky inflation, as well as the last jump in major family food prices such as eggs and the expected impact of definitions,” said Jweochsid. “Signs to inflation and prices generally continue to arrange the highlands in writing responses, but the focus has turned towards other topics.”
“There was a sharp increase in trade and definition signals, and a return to an invisible level since 2019. The most prominent of which is the comments on the current administration and its policies controlling responses.”
Say Job City in Pakistan for today latest jobs opportunities in private and Govt departments. View all new Government careers collected from daily. sayjobcity.com