Consumer Confidence Dips in February

With interest rates and gas prices rising, consumer confidence slid in February from its January record high, but remained at levels last seen during the boom of the late 1960s. The Conference Board said its consumer confidence index dipped to 141.8 in February from 144.7 in January. It was the first decline since October, and the reading was lower than the 143 analysts expected but still above December’s 141.7. The business group’s monthly report said that of the approximately 5,000 U.S. households surveyed, 17.6% in February expect business conditions to improve in the next six months, down from 20% the month before. Fifteen percent expect employment opportunities to increase, the lowest reading since 14% in February 1999.