CNBC: Consumer Confidence Hits 130.8 in February vs. Expectation of 126.3

After rebounding in January and reaching its highest level since 2000, U.S. consumer confidence once again grew in February. CNBC notes that the Conference Board’s measure of consumer attitudes on both current and future economic conditions jumped to 130.80 this month. That’s an improvement from January’s score of 124.30.

In an interview with CNBC, Lynn Franco, The Conference Board’s director of economic indicators, said, “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. Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead.”

An improving labor force is the main factor behind the increase. This means that franchise brands across the country can tap into consumers who are willing to spend.

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