The index fell 0.6 points to 110.5 points from 111.1 in January.
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Consumer confidence in the United States fell slightly in February, for the second month in a row, due to a less optimistic growth outlook and heightened concerns about inflation, according to the Conference Board index released on Tuesday. .
The index fell 0.6 points to 110.5 points from 111.1 in January, according to data revised down from what was initially announced. The fall is however less strong than expected by analysts, who expected 109 points.
In detail, the index measuring the current situation is improving, climbing to 145.1 points against 144.5 points. However, this is not enough to offset the drop in the index measuring the outlook, which fell to 87.5 points, against 88.8 last month.
An index of 100 corresponds to consumer confidence in 1985.
“Inflation concerns rose again in February, after posting several consecutive declines,” said Lynn Franco, senior director of economic indicators at the Conference Board, quoted in the statement.
Consumers, however, “remain relatively confident about near-term growth prospects,” she said, adding that “confidence and consumer spending will continue to be negatively impacted by higher prices in the coming months. “.
She further clarifies that “the share of consumers planning to buy homes, automobiles, major appliances and vacations in the next six months have all fallen.”
Consumer spending is the main driver of growth in the United States.
US GDP grew by 5.7% in 2021.
But the economy is now threatened by inflation, which hit 7.5% year on year in January, its fastest pace in nearly 40 years, according to the Labor Department’s CPI index.
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