Consumer confidence picks up in February
March 1, 2013
Filed under News
Consumer attitudes rebounded in February as Americans shrugged off concerns over the coming sequester budget cuts.
All three major measures of consumer confidence showed improvement this week.
- The University of Michigan-Thomson Reuters consumer sentiment index was at 77.6, up from January’s 73.8. That was ahead of expectations and the highest level since November.
- The Conference Board Consumer Confidence Index jumped to 69.6, up from 58.4 in January. The Expectations portion of the index – which measures future outlook – was up nearly 14 points.
- Bloomberg’s weekly Consumer Comfort Index was up for the fourth straight week to minus 32.8, it’s highest level this year. More respondents had a positive view of the American economy than at any time since March 2008.
The government also announced today that consumer spending in January increased slightly (by $18.2 billion or 0.2 percent) in January from December.