Consumer Confidence Plummets: Biggest Monthly Drop Since 2021
The Conference Board’s February consumer confidence index plummeted to 98.3, a seven-point drop representing the largest monthly decline in over four years. This sharp decrease, significantly below economist projections, reflects growing concerns about persistent inflation and the potential for a trade war. The report revealed declines in short-term expectations for income and business conditions, with pessimism about future employment reaching a ten-month high. This downturn in consumer confidence, coupled with a recent sharp drop in retail sales, signals a potential economic slowdown.
John Q. Hosedrinker