U.S. consumer confidence improves; house prices surge

u s consumer confidence improves house prices surge

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PMN Business

Author of the article:

Reuters

Lucia Mutikani

Publishing date:

Feb 23, 2021  •  10 minutes ago  •  3 minute read

Article content

WASHINGTON — U.S. consumer confidence increased in February, with households slightly upbeat about labor market conditions amid declining new COVID-19 infections and expectations for additional money from the government to help the economy’s recovery from the pandemic.

The survey from the Conference Board on Tuesday also showed consumers warming up to overseas vacations, though fewer intended to purchase homes, automobiles and other big-ticket items over the next six months. This fits in with economists’ predictions that demand will swing back to services from goods in the coming months as more Americans get vaccinated.

Federal Reserve Chair Jerome Powell told lawmakers on Tuesday the economy’s recovery from the pandemic recession remained “uneven and far from complete,” adding it would be “some time” before the U.S. central bank considered changing its ultra-easy monetary policy stance.

The Conference Board said its consumer confidence index rose to a reading of 91.3 this month from 88…

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