Key US consumer confidence gauge falters, but consumers remain upbeat

0 Comments | AFP, February, 2005

WASHINGTON (AFP) — A key gauge of US consumer confidence showed faltering confidence in February as consumer optimism dropped moderately on the month, however consumers remain upbeat about the strength of the economy, according to The Conference Board.

The Conference Board said its closely-tracked consumer confidence index dipped to 104.0 in February from a upwardly revised 105.1 reading in January.

January's reading was revised higher from a preliminary reading of 103.4 while the decline in February's reading was not as bad as many on Wall Street had feared.

"Although expectations cooled this month, consumers are more optimistic today than they were a year ago," said Lynn Franco, the director of The Conference Board's Consumer Research Center.

"Just...