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According to the World Conference Board, the consumer confidence index rose to 130.7 in February and was revised down to 130.4 in January. Economists polled by Reuters are expected to rise to 132.0 in February.
The survey did not mention the coronavirus outbreak, nor did economists think it would hurt consumer confidence. The new coronavirus has killed more than 2700 people worldwide, mostly in China, and has spread to other countries. They noted that consumer confidence remained strong despite the pressure on business confidence from trade tensions between Washington and Beijing.
"The confidence of the informants is still high under the impact of trade war speech and other factors, even if the epidemic develops into an epidemic, it may not have a great impact on consumer confidence," said Robert Frick, an enterprise economist at Navy Federal Credit Union. "The main reason for maintaining such a high level of confidence is that strong recruitment, which will not disappear in the short term. "
World enterprise research's US consumer status index fell to 165.1 in February from 173.9 in January. The index is based on consumers' assessment of current business and labor market conditions. The US consumer expectations index rose to 107.8 in February from 101.4 in January.
The report follows a survey released on Friday by IHS Markit, a data firm, that showed the composite purchasing managers' index, which tracks U.S. manufacturing and services activity, initially fell to a 76 month low in February. IHS Markit attributed the index's collapse to the outbreak of the new coronavirus, saying it damaged travel and tourism and disrupted supply chains.


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