U.S. consumer confidence increased in February, with the Conference Board’s consumer confidence index rising by 2.2 points to 91.2.
January’s index was revised upward to 89.0 from the previously reported 84.5, which had marked the lowest level since May 2014.
The big picture: The February confidence reading surpassed economists’ predictions, who had forecast an index of 87.0.
- Improvement was driven in part by households’ more optimistic views about the labor market and a reduction in pessimism about the future.
- The confidence measure remains considerably below its four-year peak reached in November 2024.
Go deeper: Perceptions of employment conditions saw modest improvements, with the unemployment rate falling to 4.3% in January from 4.4% in December.
- Despite this, many laid-off workers still face extended periods of unemployment, and job prospects are especially limited for recent college graduates.
- The median duration of unemployment remains near its highest levels in four years.
