Consumer confidence in the U.S. experienced a significant decline in February, marking the largest monthly drop since August 2021. The Conference Board Consumer Confidence Index® fell by 7.0 points to 98.3, with declines observed across all age and income groups. The Expectations Index, which reflects short-term outlooks on income, business, and labor conditions, dropped below the 80-point threshold signaling potential recession risks ahead. Consumers grew more pessimistic about future business conditions, income prospects, and employment opportunities. Inflation expectations surged to 6%, driven by factors such as rising prices for household staples and anticipated tariff impacts. Plans for major purchases like cars and electronics declined, while priorities shifted toward healthcare and entertainment services. The data highlights growing concerns about economic stability amid shifting consumer sentiment. — news from PR Newswire
