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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

1 year 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.

Ready to Relocate? Wilkerson Makes Your Move Seamless

When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time. "We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them. Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."