US consumer confidence index declined in February, driven by economic, job market, and financial concerns.

US consumer confidence fell in February for the first time in four months, driven by concerns over the economy, job market, and financial conditions. The Conference Board's consumer confidence index dropped to 106.7 from 110.9 in January, marking a decline after three consecutive months of improvement. This drop comes despite the economy's resilience in the face of higher interest rates and inflation, with consumer spending accounting for about 70% of US economic activity closely monitored by economists to evaluate the broader economy. Inflation concerns eased slightly, with food and gas prices becoming less of a worry, but concerns about the labor market and domestic political environment have increased.

February 27, 2024
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