"On a six-month moving average basis, confidence grew in February for consumers under the age of 35-the most optimistic group overall. Indeed, since around summer 2023, Gen Z has been the most confident cohort surveyed by the Conference Board."
"The board's present situation index, which is based on consumers' assessment of current labor market and business conditions-decreased by 1.8 points in February, having steadily trended downward since mid-2021. On the other hand, the expectations index (which evaluates the six-month outlook for income, business conditions and the jobs market) rose by 4.8 points to 72."
"consumers' write-in responses on factors affecting the economy continued to skew towards pessimism. Comments about prices, inflation, and the cost of goods remained at the top of consumer's minds. Mentions of trade and politics also increased in February."
The Conference Board's February consumer confidence survey revealed a 2.2-point increase to 91.2, driven primarily by improved six-month economic expectations rising 4.8 points to 72. However, current situation assessments declined 1.8 points, continuing a downward trend since mid-2021. A notable demographic divide emerged: consumers under 35, particularly Generation Z and young millennials, demonstrated the strongest confidence levels on a six-month moving average basis, marking their most optimistic period since summer 2023. Conversely, Baby Boomers, Generation X, and the Silent Generation experienced markedly lower confidence in February. Consumer concerns remained focused on prices, inflation, and cost of goods, with increased mentions of trade and political factors.
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