Consumer Confidence slipped in February to an index reading of 110.5 (1985=100), according to the New York-based Conference Board.
The Quikrete Industry Dashboard also shows stock prices for major hardware and building supply companies are gravitating toward the top left quadrant of the Stock Roundup grid, indicating down-for-the-month, up-for-the-year performances.
These updated metrics appear on the Dashboard along with residential construction metrics that are trending down, and existing home sales that are trending up.
Regarding Consumer Confidence, February marks the second consecutive month of a declining index.
“Concerns about inflation rose again in February, after posting back-to-back declines. said Lynn Franco, senior director of economic indicators at The Conference Board. “Despite this reversal, consumers remain relatively confident about short-term growth prospects. While they do not expect the economy to pick up steam in the near future, they also do not foresee conditions worsening. Nevertheless, confidence and consumer spending will continue to face headwinds from rising prices in the coming months.”