Consumer confidence slumps in February with biggest monthly drop in nearly 4 years

U.S. consumer confidence plunged sharply in February by more than expected, according to a report released Tuesday. The Conference Board released its Consumer Confidence Index on Tuesday declined to 98.3 in February, the lowest level since June. That's well below the LSEG poll's estimate of 102.5 for February and the prior reading of 104.1 in January. "In February, consumer confidence registered the largest monthly decline since August 2021," said Stephanie Guichard, senior economist, global indicators, at The Conference Board. "This is the third consecutive month-on-month decline, bringing the index to...