US Consumer Confidence Rises Slightly to 130.7 in February
WASHINGTON (AP) — U.S. consumer confidence improved slightly in February, rising to a reading of 130.7, the highest point since August.
The Conference Board said Tuesday that its measure of consumer sentiment is up from a revised reading of 130.4 in January.
Consumers views on the present situation for business and labor market conditions fell this month, but their expectations for the future rose.
Conference Board economist Lynn Franco said that consumers continue to view the outlook as favorable and when this is combined with solid employment growth, it should be enough to support continued spending and economic growth in the near term.
Consumer spending has been the driving force in the current economic expansion, now in its 11th year.