U.S. Consumer confidence at Best Level in 6-Months

Conference Board is reporting that U.S. consumer confidence edge higher in February, to its best level in the 6-months. The reading increased to 130.7 in February, from a downward revised 130.4 in January. The improved reading is in expectations, signaling that solid employment and inexpensive fuel prices are helping Americans look past concerts about the spread of the coronavirus. The reading is in step with other confidence measures, which remained elevated in February. The University of Michigan’s survey rose to the highest level in almost two years, while pessimism among U.S. consumers fell to an almost 18-year low, according to Bloomberg’s Consumer Confidence Index.