{"id":42567,"date":"2023-02-28T17:59:00","date_gmt":"2023-02-28T17:59:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42567"},"modified":"2023-03-02T19:34:00","modified_gmt":"2023-03-02T19:34:00","slug":"market-wrap-consumer-confidence-weakens","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-consumer-confidence-weakens\/","title":{"rendered":"Market Wrap &#8211; Consumer Confidence weakens"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42567\" class=\"elementor elementor-42567\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b1a9e56 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b1a9e56\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-26c61b7\" data-id=\"26c61b7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-259bb96 elementor-widget elementor-widget-text-editor\" data-id=\"259bb96\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Stock markets turned higher as the <a href=\"https:\/\/bit.ly\/3hwxqIo\" target=\"_blank\" rel=\"noopener\">greenback<\/a> headed lower after the latest consumer confidence data from the United States showed a weakening in February pushing back on the aggressive Fed rate hike narrative.<\/p><p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">Gold<\/a> rose slightly, although flows are competing against United States bond yields that are suddenly much more attractive than they were for all of the 2010s.<\/p><p>Breaking down the data, the Conference Board\u00a0Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9, down from 106.0 in January.<\/p><p>The\u00a0Present Situation Index, based on consumers&#8217; assessment of current business and labour market conditions, increased to 152.8 from 151.1 last month.<\/p><p>The\u00a0Expectations Index based on consumers&#8217; short-term outlook for income, business, and labour market conditions fell further to 69.7 from a downwardly revised 76.0 in January.<\/p><p>Notably, the Expectations Index has now fallen well below 80-the level which often signals a recession within the next year. It has been below this level for 11 of the last 12 months.<\/p><p>Ataman Ozyildirim, Senior Director, Economics at The Conference Board said &#8220;Consumer confidence declined again in February. The decrease reflected large drops in confidence for households aged 35 to 54 and for households earning\u00a0$35,000\u00a0or more.&#8221;\u00a0<\/p><p>He also added &#8220;While consumers&#8217; view of current business conditions worsened in February, the Present Situation Index still ticked up slightly based on a more favourable view of the availability of jobs. In fact, the proportion of consumers saying jobs are &#8216;plentiful&#8217; climbed to 52.0 percent-back to levels seen in the spring of last year. However, the outlook appears considerably more pessimistic when looking ahead.<\/p><p>Expectations for where jobs, incomes, and business conditions are headed over the next six months all fell sharply in February.&#8221;<\/p><p>Fewer consumers are planning to purchase homes or autos and they also appear to be scaling back plans to buy major appliances. Vacation intentions also declined in February.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Stock markets turned higher as the greenback headed lower after the latest consumer confidence data from the United States showed a weakening in February pushing back on the aggressive Fed rate hike narrative. Gold rose slightly, although flows are competing against United States bond yields that are suddenly much more attractive than they were for [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":42630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[764,28,601,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Consumer Confidence weakens - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-consumer-confidence-weakens\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Consumer Confidence weakens Market Wrap - Consumer Confidence weakens\" \/>\n<meta property=\"og:description\" content=\"Stock markets turned higher as the greenback headed lower after the latest consumer confidence data from the United States showed a weakening in February pushing back on the aggressive Fed rate hike narrative.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-consumer-confidence-weakens\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-28T17:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-02T19:34:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/03\/GettyImages-1441880297.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"532\" \/>\n\t<meta property=\"og:image:height\" content=\"342\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Consumer Confidence weakens Market Wrap - Consumer Confidence weakens\" \/>\n<meta name=\"twitter:description\" content=\"Stock markets turned higher as the greenback headed lower after the latest consumer confidence data from the United States showed a weakening in February pushing back on the aggressive Fed rate hike narrative.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-consumer-confidence-weakens\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-consumer-confidence-weakens\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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