The Conference Board Consumer Confidence Index® Continued to Improve in February

The Conference Board, a non-partisan, not-for-profit think tank, which was founded in 1916, released today (2-23-21) their Consumer Confidence Index® (CCI) for February 2021. The CCI improved in February, following an increase in January. The Index now stands at 91.3 (1985=100), up from 88.9 in January. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—climbed from 85.5 to 92.0. However, the Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell marginally, from 91.2 last month to 90.8 in February. Lynn Franco, Senior Director of Economic Indicators at The Conference Board said in remarks prepared to accompany the February CCI, “After three months of consecutive declines in the Present Situation Index, consumers’ assessment of current conditions improved in February. This course reversal suggests economic growth has not slowed further. While the Expectations Index fell marginally in February, consumers remain cautiously optimistic, on the whole, about the outlook for the coming months. Notably, vacation intentions—particularly, plans to travel outside the U.S. and via air—saw an uptick this month, and are poised to improve further as vaccination efforts expand.”