Consumer confidence sets new lows in February[SIZE=-1]Consumer confidence, which was at record lows in January, fell even further in February, according to the monthly report of the Conference Board Consumer Confidence Index.
The lack of confidence can be blamed on consumers' bleak outlook for the overall economy and pessimistic opinion of the job market, the Conference Board survey of 5,000 U.S. households showed.
"Looking ahead, increasing concerns about business conditions, employment, and earnings have further sapped confidence and driven expectations to their lowest level ever," said Lynn Franco, director of the Conference Board Consumer Research Center.
"All in all, not only do consumers feel overall economic conditions have grown more dire, but just as disconcerting, they anticipate no improvement in conditions over the next six months."
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