Consumer Intentions To Buy TV Sets Fell in February, Conference Board Says

Consumer intentions to buy TV sets fell slightly in February from January, according to preliminary data in the Conference Board’s monthly survey. Of 5,000 homes Nielsen canvassed for the Conference Board through Feb. 11, 12.9 percent of consumers said they plan to buy a TV set in the next six months, down from 13.5 percent in January and 13.1 percent in December, and down sharply from 14.4 percent in February 2015, the Conference Board said. The Consumer Confidence Index, which increased moderately in January, declined in February because “consumers’ assessment of current conditions weakened, primarily due to a less favorable assessment of business conditions,” the Conference Board said in a Tuesday announcement. “Consumers’ short-term outlook grew more pessimistic, with consumers expressing greater apprehension about business conditions, their personal financial situation, and to a lesser degree, labor market prospects,” it said. “Continued turmoil in the financial markets may be rattling consumers, but their assessment of current conditions suggests the economy will continue to expand at a moderate pace in the near-term.”