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.
