Consumer Confidence hits 15-year high in February

Trend Gallup's U.S. Economic Confidence Index- Weekly Averages

"From month to month, a consumer's confidence can fluctuate in response to a variety of economic factors, ranging from the stock market to the number of local businesses that are hiring", said Randy Shumway, Chairman and Partner of Cicero Group. Despite a weak employment performance last month, expectations regarding job prospects improved for the fourth consecutive month in February.

Those saying business conditions are "good" declined to 28.7 percent from 29 percent.

Consumers expecting business conditions to improve over the next six months increased to 24.0 percent from 22.9 percent, although those expecting conditions to worsen also inched up to 11.1 percent from 10.8 percent. "Overall, consumers expect the economy to continue expanding in the months ahead", she said. Consumers' assessment of the labor market was also mixed.

Those who said jobs are plentiful decreased from 27.1% to 26.2% while those who said jobs are hard to get also decreased from 21.2% to 20.3%.

USA consumers are the most confident in the US economy in 15 years, buoyed by the strongest job market since before the Great Recession.

However, the index gained to reach its highest level since 2008, stated the report. Those saying business conditions are "bad" decreased to 13.2 percent from 15.9 percent.

The Index of Consumer Confidence rose 9.0 points, its largest monthly increase since March 2015. The two provinces also saw the creation of the bulk of full-time positions resulting from the Canadian economy recently, said the Conference Board. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.

The rise in confidence, however, offers no bet the economy will perform up to the heightened expectations of consumers. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90 percent of the world's population.

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