Consumer Confidence Stumbles In February

Compiled ByJill Jusko Consumer confidence, which had been on the upswing since December, stumbled in February, according to the Conference Board's latest Consumer Confidence Index. The Index stands at 94.1, down from 97.8 in January. The index compares monthly results with 1985, when the average index stood at 100. It is based on results from a monthly survey of 5,000 U.S. households. Consumers' assessment of ongoing business conditions weakened in February. Those rating conditions as "good" declined from 18.2% to 17.2%. Those rating conditions as "bad" rose from 22.4% to 22.9%. Consumers also offered less optimism for the near future. Some 22% said they expect an improvement in business conditions in the next six months. That's down from the 24.9% who in January were anticipating an improvement. Additionally, those anticipating worsening conditions rose to 11.3% in February from 9.8%. The Conference Board, based in New York, is a business membership and research organization.