US consumer confidence rises more than expected in February

​​​​​​​​​​​​​​​​​​​​​By Mucahithan Avcioglu

ISTANBUL (AA) - The Conference Board's US Consumer Confidence Index rose 2.2 points to 91.2 in February, above estimates, according to survey data released Tuesday.

The figure for January was revised upwards to 89, while markets expected the figure to come in at 87.4 for February.

The Present Situation Index, which reflects consumers' assessments of current job and labor market conditions, fell 1.8 points to 120 in February.

The Expectations Index, which is consumers' short-term assessments of income, job and labor market conditions, rose 4.8 points to 72, still below the threshold of 80 that usually signals that a recession is ahead.

“Confidence ticked up in February after falling in January, as consumers’ pessimistic expectations for the future eased somewhat,” said Dana Peterson, chief economist at the Conference Board.

She said four of five components of the Index firmed, but the measure remained well below the four-year peak achieved in November 2024 (112.8).

Peterson said consumers’ written responses remained largely pessimistic, with prices, inflation and the cost of goods still main concerns.

Mentions of trade and politics rose in February, while labor market concerns eased slightly and immigration references increased.

Average and median 12-month inflation expectations were mostly unchanged but stayed high. Consumers also expect interest rates to remain elevated over the next year.

Most still anticipate higher stock prices in 12 months, though slightly fewer than in January, according to Peterson.