Consumer Confidence Tumbled in February

U.S. consumer confidence plunged more than 10 points in February, raising concerns about the outlook for consumer spending, according to a report released Tuesday.

Separately, U.S. home prices fell in December but were up when adjusted for seasonal factors, according to the S&P Case-Shiller home-price indexes, as yearly declines continued to ease.

The Conference Board, a private research group, said its index of consumer confidence declined to 46.0 this month, from a revised 56.5 in January, first reported as 55.9. The February reading was far below the 54.8 expected by economists surveyed by Dow Jones Newswires.

The present situation index, a gauge of consumers' assessment of current economic conditions, fell to 19.4 this month from 25.2 in January, originally reported as 25.0. The February index was the lowest in 27 years.

Read Full Article from Wall Street Journal

- Posted: 2010-02-23 10:31:15

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