Consumer confidence is on seven-month lows in the United States in February

Consumer confidence decreased in the U.S.A. in February to the lowest level in seven months as worries about a slowing economy and tumbling stock prices took a toll.

The Conference Board said Tuesday that its consumer confidence index dipped to 92.2 this month, down from a reading of 97.8 in January, which had been a three-month high. The February reading was the lowest since confidence stood at 91.0 in July.

Consumers' assessment of current conditions weakened due to less favorable views about business conditions and the labor market. (MTI)