Consumer confidence dives to 15-year low

Flagging consumer confidence comes as inflation spiked, with prices rising 1% in the past month.
FEB 26, 2008
By  Bloomberg
The consumer confidence index plummeted in February, reflecting deteriorating economic conditions in all categories. The index, released today by the Consumer Confidence Board of New York, fell to 75, down from 87.3 in January. "The Consumer Confidence Index continues losing ground and, with the exception of the Iraqi War in 2003, is now at its lowest level in nearly fifteen years," wrote Lynn Franco, Director of the Conference Board Consumer Research Center, in a statement released alongside the information. The decreasing consumer confidence comes as inflation continues to increase, with prices rising 1% in the past month. The public perception of the job market was bleak as well, with 28.8% of consumers stating that jobs were "hard to get" in present conditions, up from 20.6%. Consumers were similarly pessimistic about the future. The proportion of consumers who expected business conditions to worsen over the next six months increased to 21.4% from 16.3% the month before.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.