Conference Board: Consumer Confidence Index Rebounds
Mar 1, 2013
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The Conference Board Consumer Confidence Index, after a January drop, was back up in February 2013. The Index grew from January's 58.4 to 69.6 in February.
The index's two components are the Present Situation Index and the Expectations Index, both of which improved in February 2013.
* The Present Situation Index was up from 56.2 in January to 63.3 in February
* The Expectations Index was up from 59.9 in January to 73.8 in February
The Present Situation Index, measuring consumer assessment of present conditions, showed in February 2013 that:
* consumers who view current business conditions as good rose from 16.1% in January 2013 to 18.1% in February
* consumers who view current business conditions as bad dropped from 28.4% in January to 27.8% in February
The Expectations Index, measuring consumers' short-term outlook, showed consumers more optimistic. The share of consumers expecting business conditions to improve in the next six months were up from January to February. The chare of consumers expecting business conditions to worsen was down.
Lynn Franco, Director of Economic Indicators at The Conference Board, said the February confidence rebound came after the "shock effect" of the fiscal cliff uncertainty and ensuing payroll tax cuts appeared to have faded.
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