Consumer Confidence Drops in February on Economic and Election Worries

• Consumer confidence fell in February, interrupting a 3-month rise, due to uncertainty about the U.S. economy and presidential election • Index fell to 106.7 from a revised 110.9 in January, below economists' forecasts of 115.1
• Inflation concerns have eased recently, but consumers more worried about jobs and political environment • Economy still in good shape overall - low unemployment, strong stock market, expected Fed rate cuts • Original January reading of 114.8 was a 2-year high but was revised down; current conditions and future expectations sub-indexes also fell