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
"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, firstname.lastname@example.org, www.dtn.com. (c)
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