NEW YORK, Feb. 28 (Xinhua) -- U.S. consumer confidence increased in February, following a modest increase in January, the New York-based research group Conference Board said in a report on Tuesday.
The Conference Board Consumer Confidence Index registered 130.8 in January, up from 124.3 in December.
The report showed that consumers' assessment of business conditions was moderately more positive than in January. The percentage of people saying business conditions are "good" increased slightly from 35.0 percent to 35.8 percent, while those saying business conditions are "bad" decreased from 13.0 percent to 10.8 percent. Consumers' assessment of the labor market was considerably more favorable.
Meanwhile, consumers' outlook for the job market was also more positive. The proportion expecting more jobs in the months ahead increased from 18.7 percent to 21.6 percent, while those anticipating fewer jobs declined from 12.5 percent to 11.9 percent.
"Consumers' assessment of current conditions was more favorable this month, with the labor force the main driver," Lynn Franco, Director of Economic Indicators, said at the Conference Board.
"Despite the recent stock market volatility, consumers expressed greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects," Franco added. Enditem
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