Confidence about the state of the American economy has fallen among U.S. consumers, while expectations about the future remain at a level indicating an upcoming recession, according to a survey by The Conference Board, a nonprofit research group.
The Conference Board’s Consumer Confidence Index fell for the second consecutive month in February, to 102.9, down from 106 in January, according to a press release on Feb. 28. The Expectations Index, which is based on the consumers’ short-term outlook for income, labor market, and business conditions, declined from 76 in January to 69.7 in February. If the Expectations Index falls below 80, it is a signal of recession within the next year. During the past 12 months, the Expectations Index has been below 80 for 11 months.
