Inflation, looming trade war take a toll as confidence of the U.S. consumer tumbles
WASHINGTON (AP) — U.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday, with inflation seemingly stuck and a trade war under President Donald Trump seen by a growing number of Americans as inevitable.
The Conference Board reported that its consumer confidence index sank this month to 98.3 from 105.3 in January. That’s far below the expectations of economists, who projected a reading of 103, according to a survey by FactSet.
The seven-point drop was the biggest month-to-month decline since August of 2021.
http://apnews.com/article/consumer-confidence-conference-board-economy-spending-4ec3430138e6d872a6dae273e212edd1
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