News Column

Consumer Confidence Bounces Back in February

February 26, 2013
consumer confidence

US consumer confidence jumped in February, rebounding from a steep decline a month earlier, New York-based research group the Conference Board said Tuesday.

The index of consumer confidence rose to 69.6 from a revised 58.4 in January, when sentiment was still dented by a political standoff over budget cuts and the threat of a "fiscal cliff."

"Consumer confidence rebounded in February as the shock effect caused by the fiscal cliff uncertainty and payroll tax cuts appears to have abated," said Lynn Franco, the group's director of economic indicators.

US consumers also had a more positive outlook on business and labour market conditions while income expectations had also improved modestly, Franco said.

The short-term economic outlook also improved, with 18.9 per cent of those surveyed expecting improved business conditions over the next six months, up from 15.6 per cent a month earlier.

The figures are based on a monthly survey of consumers conducted by the pollster Nielsen.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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