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Kuwait- US consumer confidence at its highest since 2000
(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Feb 27 (KUNA) -- US consumer confidence in February improved to its highest level since 2000 due to the labor force, US official figures showed Tuesday.
The Conference Board Consumer Confidence Index increased in February, following a modest increase in January, where the Index now stands at 130.8 up from 124.3 in January.
The Present Situation Index increased from 154.7 to 162.4, while the Expectations Index improved from 104.0 last month to 109.7 this month.
Director of Economic Indicators at The Conference Board Lynn Franco said in a statement, in this regard "consumers' assessment of current conditions was more favorable this month, with the labor force the main driver." Franco stressed that despite the recent stock market "volatility," consumers expressed "greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects." "Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead," Franco noted. (end) si.mb
The Conference Board Consumer Confidence Index increased in February, following a modest increase in January, where the Index now stands at 130.8 up from 124.3 in January.
The Present Situation Index increased from 154.7 to 162.4, while the Expectations Index improved from 104.0 last month to 109.7 this month.
Director of Economic Indicators at The Conference Board Lynn Franco said in a statement, in this regard "consumers' assessment of current conditions was more favorable this month, with the labor force the main driver." Franco stressed that despite the recent stock market "volatility," consumers expressed "greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects." "Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead," Franco noted. (end) si.mb
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