US consumer confidence plummets in February, biggest monthly decline since 2021
U.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday
By MATT OTT AP business writer
February 25, 2025, 9:08 AM
WASHINGTON -- U.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday, with inflation seemingly stuck and a trade war under President Donald Trump seen by a growing number of Americans as inevitable.
The Conference Board reported that its consumer confidence index sank this month to 98.3 from 105.3 in January. That's far below the expectations of economists, who projected a reading of 103, according to a survey by FactSet.
The seven-point drop was the biggest month-to-month decline since August of 2021.
Markets on Wall Street immediately dropped. The S&P 500 fell 0.6% in midday trading, while the Dow Jones Industrial Average was flat. The Nasdaq declined 1.1%.
Respondents to the board's survey expressed concern over inflation with a significant increase in mentions of trade and tariffs, the board said.
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