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Consumer confidence slips in February

Tuesday, Feb. 22, 2005 | 9:24 a.m.

NEW YORK -- A widely watched indicator of consumers' confidence in the economy slipped in February but remained well above its levels a year ago, a private research group reported today.

The Conference Board said its consumer confidence index dipped to 104.0 this month, down from a revised 105.1 in January, as optimism about business conditions over the next six months declined. The latest figure was slightly above what analysts were expecting.

Lynn Franco, director of the Conference Board's research division, called the reading an indicator that consumers expect moderated but continued growth in the economy.

"We're not going to fall off a cliff and head into a recession, but we're not likely to gather substantial momentum either and see growth rates in excess of 5 percent," Franco said.

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