University of Michigan Consumer Confidence Up 3.2 Points

In February, the University of Michigan Consumer Sentiment Index fell rose 3.2 points to 77.5. Though still as a very low level, confidence levels have been gradually improving over the past six months. The rise in February was primarily due to improvement in the current conditions component, which rose by 5.1 points. The future expectations component of the index also improved, but by a lesser 2.3 points.

Inflationary expectations remained stable from the prior month. The one-year outlook was 3.4% and the five-year was 2.9%. These are elevated from a few months ago, particularly the one-year outlook, which was under 3%.

1966 = 100	Feb	Jan	Dec	Nov	Oct	Sep
Headline Index	77.5	74.2	74.5	71.6	67.7	68.2
Current Conditions	86.9	81.8	85.3	82.1	76.6	79.6
Future Expectations	71.6	69.3	67.5	64.8	61.9	60.9