Consumer confidence plays a pivotal role in shaping demand patterns that impact investments and resource allocation.

Based on the latest data from the Conference Board, February saw a sharp decline in the Consumer Confidence Index^®, dropping by 7.0 points this month.

It’s the third consecutive month-on-month decline. The age groups most expressing this sentiment are 35-55 years old.

Of the five Index elements, only consumers’ assessment of present business conditions improved. The other four components – current labor market conditions, future business conditions, optimism on future income, and future employment prospects – all worsened.