Consumers Increasingly Worried About What Lies Ahead

Source: Economics Group of Wells Fargo Bank, N.A.Summary Consumers’ confidence continued to wane in February. A tight labor market is keeping consumers feeling secure about their present situation, but still high prices and rising borrowing costs leave consumers particularly concerned about what lies ahead. Confidence Led Lower by Expectations, Buying Plans Slide The 3.1 point drop in consumer confidence for February pours some cold water on the streak of strong economic data received to start the year. Confidence has now fallen in four of the past five months, and this report tells us that although consumers are still enjoying the benefits of a tight labor market, still high prices and higher interest rates are making them less sanguine about future economic conditions. READ FULL ARTICLE>>