Feb US Consumer Confidence Index Rises To 70.4, 3-Year High

U.S. consumers felt better about the economy this month, according to a report released Tuesday.

The Conference Board, a private research group, said its index of consumer confidence jumped to 70.4 in February from a revised 64.8 in January. Last week, the Conference Board revised its indexes back to November 2010 to reflect new methodology.

The February reading was well above the 66.0 expected by economists surveyed by Dow Jones Newswires. The steep improvement should bolster expectations that consumer spending will keep adding to U.S. economic growth this year.

The present situation index, a gauge of consumers' assessment of current economic conditions, rose to 33.4 from 31.1.

Consumer expectations for economic activity over the next six months jumped to 95.1 from 87.3 last month.

Read Full Article from Wall Street Journal

- Posted: 2011-02-22 22:16:53

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