Consumer Confidence Falls for Third Straight Month

Consumer Confidence Falls for Third Straight Month

Consumers were feeling decidedly gloomier about the economy in February, with the consumer confidence index falling for a third consecutive month.

The Conference Board’s consumer confidence index dropped 7 points to a reading of 98.3 in February, notching its largest monthly decline since August 2021. Economists polled by FactSet were expecting the index to drop to a reading of 103 from the prior month’s 104.1.

For the first time since June 2024, the expectations index—which measures consumers’ short-term outlook for the economy—was below the threshold of 80 that usually signals a recession ahead, according to The Conference Board. The proportion of consumers anticipating a recession over the next 12 months increased to a nine-month high.