The Conference Board Consumer Confidence Index, which had declined in January, rebounded in February. The Index now stands at 69.6, up from 58.4 in January. Consumers were more optimistic about the short-term outlook this month. Those expecting business conditions to improve over the next six months increased to 18.9% from 15.6%, while those expecting business conditions to worsen declined to 16.5% from 20.4%.
Consumers’ outlook for the labor market was more positive. Those anticipating more jobs in the months ahead improved to 16.7% from 14.4%, while those expecting fewer jobs decreased to 21.5% from 26.7%. The proportion of consumers expecting their incomes to increase rose to 15.7% from 13.5%, while those anticipating a decrease fell to 19.6% from 23.3%.