Consumer confidence rises less than expected as perception of current conditions wavers

A male pushes his searching cart past bread for sale at a Walmart Supercenter keep in Rosemead, California on May 23, 2019.

Frederic J. Brown | AFP | Getty Pictures

Shopper confidence rose a lot less than predicted in February as people’s assessment of latest disorders wavered, facts launched Tuesday by The Meeting Board showed.

The buyer self esteem index came in at 130.7, up from 130.4 in January. Economists polled by Dow Jones expected a print of 132.6. The Convention Board’s current situation index, which accounts for consumers’ evaluation of the current business and labor environment, dropped to 165.1 from 173.9 in January. 

The self esteem index’s weaker-than-forecast print arrives a working day following the inventory current market experienced its worst day in two a long time, with the Dow Jones Industrial Regular falling more than 1,000 details, amid issues in excess of the coronavirus’ effects on the world-wide financial system. 

“Even with the decrease in the Current Scenario Index, people go on to look at present conditions fairly favorably,” said Lynn Franco, senior director of economic indicators at The Meeting Board, in a statement. “Consumers’ brief-phrase anticipations enhanced, and when coupled with sound work progress, really should be ample to carry on to support paying and financial progress in the near term.”

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