business news in context, analysis with attitude

The Conference Board reported that, apparently because of persistent concerns about the loss of jobs in the US, Americans' consumer confidence index dropped during February more than nine points, to 87.3.

The decline followed what appeared to be January optimism, when the consumer confidence index hit 96.4.

Lynn Franco, director of the Conference Board's Consumer Research Center, tells The New York Times, "Consumers remain disheartened with current economic conditions, and at the core of their disenchantment is the labor market."

The February Conference Board index that measures consumers' assessment of current conditions declined to 73.1, from 79.4 in January, and people who described the current climate as "good" declined to 19.3 percent, from 21.9 percent in January. The percentage of people who described current conditions as "bad" increased to 25.1 percent, from 22.9 percent.
KC's View: