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Consumer Confidence Dips After a 3-Month Streak

The drop in confidence comes with concerns about inflation and household finances

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PHOTO: ISTOCKPHOTO

After a three-month rising streak, consumer confidence fell in February, according to a report by the U.S. Conference Board.

The dip is reflective of a dim outlook of the job market and personal finances, and comes during “persistent uncertainty about the U.S. economy,” Conference Board Chief Economist Dana Peterson said in a statement.

Inflation remains the largest source of pain for consumers, however concerns about food and gas prices have eased. Consumers were more concerned this month about the state of the labor market and the political environment in the U.S.

  • 21.2 percent of consumers said business conditions were “good,” down slightly from 21.3 percent in January.
  • 17.1 percent said business conditions were “bad,” up from 15.3 percent.
  • 14.8 percent of consumers expect business conditions to improve, down from 16.7 percent in January.
  • 15.5 percent expect business conditions to worsen, down from 16.0 percent.

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