Consumer Confidence Edges Up to 130.4; Below Expectations

    

   WASHINGTON, D.C. (DTN) -- The Conference Board's closely watched Consumer 
Confidence Index edged 0.3% higher in February to 130.4, while well below 
market expectations for a 132.5 reading. After a series of flat readings in the 
final quarter 2019, U.S. consumer confidence index showed signs of a continued 
recovery this month, primarily driven by consumers' positive assessment of 
labor market. 

   "Consumer confidence improved slightly in February, following an increase in 
January," said Lynn Franco, Senior Director of Economic Indicators. "Despite 
the decline in the Present Situation Index, consumers continue to view current 
conditions quite favorably. Consumers' short-term expectations improved, and 
when coupled with solid employment growth, should be enough to continue to 
support spending and economic growth in the near term."

   In response to the neutral reading, U.S. dollar declined marginally to 
99.190 in midmorning index trade, while West Texas Intermediate futures moved 
down $0.44 to near $50.99 bbl. NYMEX RBOB futures dropped 2.46cts to near 1-1/2 
week low at $1.5845 gallon. 

   Liubov Georges, 1.646.359.4088, liubov.georges@dtn.com, www.dtn.com. (c) 
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