US consumer confidence falls in February

The Conference Board released February data for its Consumer Confidence Index, which measures the sentiment of American consumers.

Accordingly, the consumer confidence index decreased by 7 points compared to the previous month and fell to 98.3 in February.

The index, which saw its lowest level since June last year, was predicted to reach 102.7 in this period.

The Consumer Confidence Index in the US was calculated as 105.3 in January.

The Current Situation Index, which reflects American consumers' assessment of current business and labor market conditions, decreased 3.4 points to 136.5 in February.

The Expectations Index, which reflects consumers' short-term assessments of income, jobs and labor market conditions, decreased by 9.3 points to 72.9 in the same period.

Thus, the Expectations Index remained below the 80 threshold, the level that indicates a recession is expected within the next year, for the first time since June 2024.

Monthly decline in the index at 3.5-year peak

Conference Board Senior Economist Stephanie Guichard, whose assessments were included in the statement, noted that consumer confidence recorded the largest monthly decline in February since August 2021, and that this was also the third consecutive monthly decline.

Guichard noted that 12-month average inflation expectations rose to 6% from 5.2% in February, adding that "this increase likely reflects a mix of factors, including sticky inflation, as well as the recent rise in prices of staples such as eggs and the expected impact of tariffs."

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