U.S. consumer confidence slips in February

February 22, 2022

WASHINGTON (Reuters) – U.S. consumer confidence fell for a second straight month in February, with fewer consumers planning to purchase homes, automobiles and go on vacation over the next six months amid concerns about the short-term economic outlook.

The Conference Board said on Tuesday its consumer confidence index dipped to a reading of 110.5 this month from a downwardly revised 111.1 in January. Economists polled by Reuters had forecast the index decreasing to 110.0 from the previously reported reading of 113.8 in January.

“Expectations about short-term growth prospects weakened further, pointing to a likely moderation in growth over the first half of 2022,” said Lynn Franco, senior director of economic indicators at The Conference Board in Washington. “Meanwhile, the proportion of consumers planning to purchase homes, automobiles, major appliances, and vacations over the next six months all fell.”

(Reporting by Lucia Mutikani)