(CNN) — American consumers felt much worse about the economy in February amid rising interest rates and concerns about a possible recession, according to the latest survey data released Tuesday by the Conference Board.
The business research group’s consumer confidence index fell to 102.9 in February from a downward revision of 106 the previous month.
Economists had expected the headline index to measure 108.5, according to Refinitiv consensus estimates.
The Conference Board Confidence Index and the University of Michigan Consumer Confidence Index are two leading indicators of consumer attitudes about the current and future strength of the economy.
Although the two indices typically track similarly over time, the Consumer Confidence Index is more influenced by employment and labor market conditions, while the Michigan Index places more emphasis on household finances. and the impact of inflation.
News in development.
