SUMMARY
- Conducted monthly by the University of Michigan through telephone interviews, the University of Michigan’s Consumer Sentiment Index assesses consumer sentiment by considering people’s feelings towards their current financial health, short-term economic conditions, and prospects for longer-term economic growth. It is divided into two reports: a preliminary report released mid-month and a final report at the end of the month, capturing the mood of American consumers and providing insights into near-term consumer spending plans.
- The February University of Michigan consumer sentiment survey showed a mixed trend, with a preliminary reading of 79.6 unexpectedly declining to 76.9 in the closing days of the month. Despite declining by 2.7% month-over-month in February, consumer sentiment remains nearly 15% higher than it was compared to a year ago, indicating continued optimism about the U.S. economy. Consumer inflation expectations remained unchanged, with consumers expecting inflation to average around 3% over the next 12 months. Headline CPI is currently at 3.1%.
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