The Conference Board announced a new high for consumer confidence in February, which reached its highest level since July 2001.
The index now stands at 114.8, up from 111.6 in January.
“Consumer confidence increased in February and remains at a 15-year high (July 2001, 116.3),” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers rated current business and labor market conditions more favorably this month than in January. Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead.”
