With -32, consumer confidence in February was below the average over the past twenty years (-10). Confidence peaked in January 2000 at 36 and hit its lowest point ever (-59) in September and October 2022. CBS has been measuring consumer confidence monthly since April 1986 based on the consumer climate survey. Consumer confidence is an average of five sub-questions, taking the balance of positive and negative responses for each question. If all consumers are positive, the balance is 100. If all consumers are negative, the balance is -100.
Consumers More Negative About Economic Climate
Consumers were more negative about the economy in February than in January. The sub-indicator for the economic climate came in at -54, compared to -50 in January. Both the consumers assessment of the economic situation over the past twelve months and the economic situation over the next twelve months deteriorated.
Also Buying Willingness More Negative
The willingness to buy came in at -17 in February, compared to -14 in January. Both the assessment of the financial situation over the past twelve months and the assessment of the financial situation over the next twelve months worsened. Consumers also found the timing for making large purchases less favorable than in January.