Consumer confidence hits 131.4 in February, vs 124 expected

Consumer confidence increased in February to 131.4 from 121.7 in January, the Conference Board said, as expectations rebounded following recent months of market volatility and the government shutdown.

"Consumer Confidence rebounded in February, following three months of consecutive declines," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board, adding that "Looking ahead, consumers expect the economy to continue expanding."

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