U.S. consumer confidence plummeted in February after three consecutive monthly increases, as households worried about the labor market and the domestic political environment.
According to the Conference Board, its consumer confidence index fell to 106.7 this month from a downwardly revised 110.9 in January. The economic forecast showed a slight change in the index at 115.0 from 114.8 in the previous reading.
Expectations for consumer price inflation fell to 5.2 percent, the lowest level since March 2020, from 5.3 percent in January.
Source (Al-Arabiya.net website, Edited)
