U.S. consumer confidence falls to seven-month low

The U.S. consumer confidence fell to a seven-month low in early February, with the preliminary February consumer confidence index from the University of Michigan dropping 3.3 points to 67.8. The data was lower than the expectations of all surveyed economists. With U.S. President Donald Trump pushing for tariff measures, the inflation outlook faces many uncertainties. If all tariffs on the U.S.'s major trading partners take effect and lead to price increases, it may weigh on consumer spending. The survey shows that the index of shopping sentiment for big-ticket items fell 12 percentage points from the previous month. In addition, overall confidence across all political parties has declined. The current conditions index fell to a three-month low of 68.7 from 74; the expectations index fell to 67.3, the lowest since November 2023. The index reflecting personal financial expectations declined to a low since October 2023 in early February. The index measuring the economic outlook for the next year also declined. (Cailian Press)