US consumer confidence improves in February

WASHINGTON, Feb 24(Reuters) - U.S. consumer confidence rebounded more than expected in February amid an improvement in households' perceptions of the labor ?market, a survey showed on Tuesday. The ?Conference Board said its consumer confidence index increased 2.2 points to ?91.2 this month. Data for January was revised ?higher to show the index ?at 89.0 ?instead of 84.5, which was the lowest level since May 2014. ?Economists polled by Reuters had ?forecast the index at 87.0.

"Confidence ticked up as consumers' pessimistic expectations for the ?future eased somewhat," ?said Dana ?Peterson, chief economist at the Conference Board. "Nonetheless, the measure remained well below the four-year peak achieved ?in November 2024. Perceptions of employment conditions ?improved slightly." The unemployment rate dropped to 4.3% in January from 4.4% in December. Still, many laid-off workers continue to experience long spells of ?joblessness ?and opportunities remain scarce for young college ?graduates. The median duration of unemployment is near ?four-year highs. Economists say President Donald Trump's trade and immigration policies were restraining hiring. The U.S. Supreme Court last Friday struck down Trump's sweeping tariffs, which he pursued under a law meant for use in national ?emergencies. Trump swiftly imposed a 10% global tariff for 150 days to replace some of the emergency ?duties, before raising ?the rate to 15% on Saturday. (Reporting ?By Lucia Mutikani)