Odaily Planet Daily News: U.S. consumer confidence fell sharply in February, and pessimism about the future returned. According to the Conference Board data, the consumer confidence index fell 7 points to 98.3 in February, and the expectations index fell 9.3 points to 72.9. This is the first time since June 2024 that the expectations index has fallen below the critical value of 80, which indicates an economic recession. Stephanie Guichard, senior economist at the Conference Board, said: "The Consumer Confidence Index in February recorded the largest monthly drop since August 2021, the third consecutive month of month-on-month decline, bringing the index to the bottom of the range since 2022. Among the five components, only consumers' assessment of current business conditions improved slightly. Consumers became pessimistic about the future business environment and their optimism about future income also declined. Pessimism about future employment prospects climbed to a ten-month high." Guichard added: "The 12-month average inflation expectations soared from 5.2% to 6% in February. The mention rate of inflation and general prices in letter responses remained high, but the focus has shifted to other topics. The mention rate of trade and tariffs has risen sharply, returning to the level since 2019." (Jinshi)