The Conference Board Consumer Confidence Index improved further in February and now stands at 70.4 (1985=100), up from 64.8 in January.
Of the different components of the Consumer Confidence Index, the Present Situation Index improved to 33.4 from 31.1, while the Expectations Index increased to 95.1 from 87.3 last month.
"The Consumer Confidence Index is now at a three-year high (Feb. 2008, 76.4), due to growing optimism about the short-term future," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers’ assessment of current business and labor market conditions has improved moderately, but still remains rather weak. Looking ahead, consumers are more positive about the economy and their income prospects, but feel somewhat mixed about employment conditions."
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