Consumer confidence rises for second straight month
February 23, 2021 7:14AM AKST
By MATT OTT AP Business Writer
SILVER SPRING, Md. (AP) — U.S. consumer confidence rose again in February as an improved COVID-19 vaccine push has Americans more optimistic about the future. The Conference Board reported Tuesday that its consumer confidence index rose to 91.3, up from 88.9 in January. The present situation index, which is based on consumers’ assessment of current business and labor market conditions, rose to 92 from 85.5 last month. The expectations index — based on consumers’ near-term outlook for income, business, and labor conditions — ticked down slightly. The consumer confidence index is closely watched by businesses and economists because consumer spending makes up about 70% of U.S. economic activity.