U.S. Consumer Confidence Dips

After rising in January to its highest level since June 2002, U.S. consumer confidence dipped in February, the Conference Board said Feb. 28. The business research firm said its index of consumer confidence fell to 101.7 this month, down from 106.8 in January.

Conference Board research director Lynn Franco said "consumers are growing increasingly concerned about the short-term health of the economy and, in turn, about job prospects."

The expectations index is now at its lowest level in three years, excluding the immediate aftermath of Hurricane Katrina in late August, Franco noted. "If expectations continue to lose ground, the outlook for the remainder of 2006 could deteriorate," she warned.

Copyright Agence France-Presse, 2006