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US consumer confidence index dips in February on concerns over business conditions, jobs

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FILE - In this Feb. 14, 2014, photo, buyer Steve Moren, left, examines flowers for purchase for his girlfriend for Valentine's Day, at the Flower Market in Los Angeles. The Conference Board releases the Consumer Confidence Index for February, on Tuesday, Feb. 25, 2014. (AP Photo/Nick Ut, File)The Associated Press

U.S. consumer confidence fell slightly in February over concerns about the near-term outlook for business conditions and jobs.

The Conference Board says that its confidence index dipped to 78.1 in February, down from 79.4 in January.

Conference Board economist Lynn Franco says the index still suggests consumers believe the economy has improved although they do not expect it to gain significant momentum in coming months.

Consumer sentiment is closely watched for indications about how it will impact consumer spending, which accounts for 70 percent of economic activity.

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