The State of the Economy for February 2025

In February, consumer confidence saw its third month-on-month decline, sliding 7 points to 98.3, the steepest decline since August 2021. Additionally, consumers’ short-term outlook for the economy fell below 80, which usually signals a recession ahead, for the first time since June 2024.     Erik Lundh, Senior Global Economist, and Stephanie Guichard, Senior Economist of Global Indicators, both at The Conference Board, unpack what’s behind declining consumer sentiment, including survey respondents' write-in responses, and how it could shape economic growth this year.  (00:30) February U.S. Consumer Confidence Survey Insights (01:08) CEO Confidence vs. Consumer Confidence (02:15) Detailed Breakdown of Consumer Confidence Components (04:49) Consumer Inflation Expectations (06:43) Consumer Spending and Market Expectations (14:40) Global Economic Outlook (15:20) U.S. Economic Forecast for 2025 (18:20) Impact of Tariffs on the Economy   For more from The Conference Board:  US Consumer Confidence Retreated in January  Download the full Consumer Confidence Survey Report  Are You Optimistic About the Economy? Most CEOs Are