Ticker: Consumer confidence slips; Toyota recalling 381,000 Tacoma pickups
American consumers are feeling less confident this month as concerns over a possible recession grew despite most recent data pointing to a healthy U.S. economy.
The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in January. Analysts had been forecasting that the index remained steady from January to February. The decline in the index comes after three straight months of improvement.
The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
The index measuring Americans short-term expectations for income, business and the job market fell to 79.8 from 81.5 in January. A reading under 80 often signals an upcoming recession.
Toyota recalling 381,000 Tacoma pickups
Toyota is recalling about 381,000 Tacoma midsize pickup trucks in the U.S. because a part can separate from the rear axle, increasing the risk of a crash.
The recall covers certain trucks from the 2022 and 2023 model years.
Toyota said in a statement Tuesday that welding debris left on the ends of the axles can cause some nuts to loosen over time and eventually fall off. That can cause the part to separate from the axle, which can affect stability and brake performance.
Dealers will inspect the rear axles and tighten retaining nuts at no cost to owners. Any damaged components will be repaired or replaced. Customers will be notified by mail in late April, the company says.