March 1, 2006	Wednesday	Muharram 30, 1427

WASHINGTON, Feb 28: US consumer confidence dipped in February after rising in January to its highest level since June 2002, the Conference Board said Tuesday.

The business research firm said its index of consumer confidence fell to 101.7 this month, down from 106.8 in January.

Conference Board research director Lynn Franco said “consumers are growing increasingly concerned about the short-term health of the economy and, in turn, about job prospects”.

The Conference Board’s index of the present economic situation rose to 129.3 in February from 128.8. But its expectations index, measuring consumer confidence going forward, fell to 83.3 from 92.1 last month.

The expectations index is now at its lowest level in three years, excluding the immediate aftermath of Hurricane Katrina in late August, Franco noted.

—AFP