Consumer confidence falls in February

NEW YORK (AP) -- Hurt in part by increased pessimism about jobs and the economy, consumer confidence declined in February, reversing two straight monthly gains.

The New York-based Conference Board said Tuesday that its Consumer Confidence Index fell to 94.1 this month from a revised 97.8 in January. Analysts were expecting a reading of 97.

The industry group's index, based on a monthly survey of some 5,000 U.S. households, is closely watched because consumer confidence drives consumer spending, which accounts for about two-thirds of the nation's economic activity.