US Consumer Confidence Dips

27 February 2002

Despite a recent raft of positive data for the US economy, consumer confidence actually slipped slightly in February, according to the closely watched index from The Conference Board in New York.

The measure of consumer sentiment dropped from 97.8 in January to 94.1 – still above its November nadir but below pre-September levels. There were falls in the components for both the present situation (98.1 to 94.8) and future expectations (97.6 to 93.6).

Concerns over employment linger: for the fourth month in succession a greater number of respondents said that jobs were hard to get than those who reported them plentiful. However, the margin between the two is far less than in previous recessions.

Economists did not seem alarmed at the latest figures. “We do expect consumers to continue spending,” The Conference Board’s Lynn Franco declared.

Data sourced from: Wall Street Journal; The Conference Board; additional content by WARC staff