U.S. Consumer Confidence Rises to 91.2 in February

U.S. consumer confidence rose in February, signaling a modest rebound after a sharp decline the previous month, according to data released by The Conference Board.

The organization's Consumer Confidence Index increased to 91.2 in February, up 2.2 points from an upwardly revised figure of 89 in January. The initial January reading had been reported at 84.5, the lowest since May 2014, but the revision indicated less severe pessimism than first thought. Economists had anticipated a February reading of around 87, making the actual result a positive surprise.

The improvement was driven largely by the Expectations Index, which measures short-term outlooks for income, business conditions, and the labor market. That component climbed four points to 72, though it remained well below the 80 threshold often associated with recession risks. February marked the 13th consecutive month below that level. In contrast, the Present Situation Index, reflecting views of current economic conditions, dipped 1.8 points to 120.

Consumers expressed greater optimism about future business and labor conditions, with perceptions of the job market improving modestly. References to labor market issues in survey...