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.
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