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Consumer Confidence Continues to Sag |
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The Conference Board, which tracks consumer confidence metrics, says the Consumer Confidence Index continued its record-setting downward trajectory this month.
The research organization said the February index stands at a record low of 25, down from 37.4 in January. Research company TNS conducts the monthly Consumer Confidence survey of 5,000 randomly selected U.S. households.
The percentage of respondents who said business conditions are "bad" increased to 51.1% from 47.9% who said so in January. Some 6.8% of consumers said business conditions are "good," up slightly from 6.5% last month.
Respondents anticipating business conditions will worsen during the next six months increased to 40.5% this month from 31.1% in January, while those expecting conditions to improve declined to 8.7% from 12.8%. The percentage of consumers anticipating fewer jobs in the months ahead increased to 47.3% from 36.9%, while those expecting more jobs fell to 7.1% from 9.1%, according to the survey.
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