retail news in context, analysis with attitude

The Conference Board is out with its monthly assessment of consumer confidence, and the February index stands at 69.6, up from 58.4 in January.

Lynn Franco, Director of Economic Indicators at The Conference Board, released the following statement:

"Consumer Confidence rebounded in February as the shock effect caused by the fiscal cliff uncertainty and payroll tax cuts appears to have abated. Consumers’ assessment of current business and labor market conditions is more positive than last month. Looking ahead, consumers are cautiously optimistic about the outlook for business and labor market conditions. Income expectations, which had turned rather negative last month, have improved modestly."

The Conference Board report continues:

"Consumers’ assessment of present day conditions improved in February. Those claiming business conditions are 'good' rose to 18.1 percent from 16.1 percent, while those stating business conditions are 'bad' decreased to 27.8 percent from 28.4 percent ... Those expecting business conditions to improve over the next six months increased to 18.9 percent from 15.6 percent, while those expecting business conditions to worsen declined to 16.5 percent from 20.4 percent."
KC's View:
Glad to hear that people are feeling more confident. Wonder if any of the folks surveyed knew how to spell "sequestration"?