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Consumer Confidence Dips After a 3-Month Streak

The drop in confidence comes with concerns about inflation and household finances.

Published

8 months ago

February 29, 2024

INSTORE Staff

Consumer Confidence Dips After a 3-Month Streak

PHOTO: ISTOCKPHOTO

After a three-month rising streak, consumer confidence fell in February, according to a report by the U.S. Conference Board.

The dip is reflective of a dim outlook of the job market and personal finances, and comes during “persistent uncertainty about the U.S. economy,” Conference Board Chief Economist Dana Peterson said in a statement.

Inflation remains the largest source of pain for consumers, however concerns about food and gas prices have eased. Consumers were more concerned this month about the state of the labor market and the political environment in the U.S.

21.2 percent of consumers said business conditions were “good,” down slightly from 21.3 percent in January.
17.1 percent said business conditions were “bad,” up from 15.3 percent.
14.8 percent of consumers expect business conditions to improve, down from 16.7 percent in January.
15.5 percent expect business conditions to worsen, down from 16.0 percent.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”