Consumer Confidence Falls on Jobs Picture

New York, NY, Feb. 23, 2010--Consumer confidence fell in February to the lowest level since last April on concerns about the job market.

The Conference Board’s confidence index declined to 46, lower than anticipated, from a revised 56.5 in January.

Concerns about current business conditions and the job market pushed the present situation index to its lowest in 27 years.

Economists forecast confidence would decrease to 55 from a previously reported 55.9 for January, according to the median of 68 projections in a Bloomberg survey. Estimates ranged from 50.9 to 59.

The Conference Board’s index of present conditions decreased to 19.4 from 25.2 the prior month.

The gauge of expectations for the next six months decreased to 63.8, the lowest since last July, from 77.3 the prior month.