Consumer confidence tumbles in February |
CNNMoney.com - Feb 23, 2010 |
A closely-watched measure of consumer confidence fell sharply in February after three straight months of improvement, a research group said Tuesday.
The Conference Board, a New York-based research group, said its Consumer Confidence Index fell to 46.0 in February from 56.5 in January.
According to a Briefing.com consensus survey, economists expected the index to fall slightly to 55.0 from 55.9. The index, which is based on a survey of 5,000 U.S. households, is closely monitored because consumer spending drives two-thirds of the nation's economic activity.
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- Posted: 2010-02-23 10:32:19
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