US Consumer Confidence Rises in February

February 28, 2017 Share Print 0

Consumers’ assessment of current conditions in the U.S. increased in February, according to a monthly survey released on Tuesday.

The Consumer Confidence Index hit 114.8 in February, according to data from The Conference Board, the highest since July 2001.

Economist expected the Consumer Confidence Index to hit 111 in February, according to a Thomson Reuters consensus estimate.

“Consumers rated current business and labor market conditions more favorably this month than in January,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement.

“Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead,” she said.

Those saying business conditions are “good” declined to 28.7 percent from 29 percent. Those saying business conditions are “bad” decreased to 13.2 percent from 15.9 percent.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.