U.S. consumer confidence unexpectedly declined in February, as rising prices and deepening concerns about the outlook outweighed the near-term strength of the labor market.
The Conference Board’s index decreased to 102.9 from a 106 reading in January, data out Tuesday showed. The median forecast in a Bloomberg survey of economists called for the gauge to rise to 108.5.
A measure of expectations — which reflects consumers’ six-month outlook — decreased to 69.7, the lowest since July, while the group’s gauge of current conditions rose to 152.8.
