Consumer confidence appeared to bounce back in February.
The Conference Board, a global think-tank and business membership organization, reported its consumer confidence index increased 2.2 points to 91.2 this month. The good news follows an adjustment to January data that showed the index at 89.0 instead of 84.5, which was the lowest level since May 2014. Economists polled by Reuters had forecast the index at 87.0.
“Confidence ticked up as consumers’ pessimistic expectations for the future eased somewhat,” Dana Peterson, chief economist at the Conference Board, told Reuters. “Nonetheless, the measure remained well below the four-year peak achieved in November 2024. Perceptions of employment conditions improved slightly.”
The unemployment rate dropped to 4.3% in January from 4.4% in December. Still, according to the Reuters report, many laid-off workers continue to experience long spells of joblessness and opportunities remain scarce for young college graduates. The median duration of unemployment is near four-year highs.
Economists say President Donald Trump’s trade and immigration policies were restraining hiring. The U.S. Supreme Court last Friday struck down Trump’s sweeping tariffs, which he pursued under a law meant for use in national emergencies.
Trump swiftly imposed a 10% global tariff for 150 days to replace some of the emergency duties, before raising the rate to 15% on Saturday.
