UofM Consumer Confidence Index Holds Around 75 in February
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Consumer sentiment during the month of February was better than expected, data from Thomson Reuters and the University of Michigan showed Friday.
A gauge of sentiment related to consumer's spending levels came in at 75.3 this morning, above the month's preliminary reading of 72.5 issued on February 10th, and up from a final reading of 75.0 in January. Economists had been expecting a confidence index reading of 73.0.
An index of consumer expectations for spending over the next six months rose to a year high at 70.3, up from the 69.1 reported in January. Consumer's sentiment about current conditions (considers a person's financial situation related to so-called big-ticket items like vehicles or major appliances) fell from 84.2 in January to 83.
Also in the monthly report, consumers said they expect inflation to hold around 3.3 percent over the next year. This is unchanged from January.
A gauge of sentiment related to consumer's spending levels came in at 75.3 this morning, above the month's preliminary reading of 72.5 issued on February 10th, and up from a final reading of 75.0 in January. Economists had been expecting a confidence index reading of 73.0.
An index of consumer expectations for spending over the next six months rose to a year high at 70.3, up from the 69.1 reported in January. Consumer's sentiment about current conditions (considers a person's financial situation related to so-called big-ticket items like vehicles or major appliances) fell from 84.2 in January to 83.
Also in the monthly report, consumers said they expect inflation to hold around 3.3 percent over the next year. This is unchanged from January.
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