A survey of consumer confidence fell to a three-month low, signaling worries about the economy as high inflation and rising interest rates depress growth.
The numbers: A survey of consumer confidence fell to a three-month low of 102.9 in February, signaling worries about the future path of the economy as high inflation and rising interest rates depress U.S. growth.Economists... The numbers: A survey of consumer confidence fell to a three-month low of 102.9 in February, signaling worries about the future path of the economy as high inflation and rising interest rates depress U.S. growth.
The consumer-confidence survey puts a lot of weight on Americans’ view of the labor market, and right now, many companies are still hiring and the unemployment rate sits at a 54-year low. A reading below 80 often signals a recession within the next year, the board said. The expectations index has hovered below that level in every month except for one since March 2022, however, and so far the economy is still in expansion mode.
Big picture: The economy has slowed in response to higher interest rates orchestrated by the Federal Reserve to try to quench inflation. Higher borrowing costs depress consumer and business spending.
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