US consumer confidence falls in February, retreating from 2-year high

By Ovunc Kutlu

ISTANBUL (AA) - US consumer confidence declined in February, retreating from its highest in more than two years, according to New York-based research group, The Conference Board, on Tuesday.

The consumer confidence index, a leading indicator of consumer spending and economic activity, fell 4.2 points to 106.7, from 110.9 in January when it recorded its highest reading since December 2021.

The market expectation for the index was to come in at 114.8.

"The decline in consumer confidence in February interrupted a three-month rise, reflecting persistent uncertainty about the US economy," said Dana Peterson, chief economist at the Conference Board.