Friday, February 24, 2012

Consumer Sentiment Inched Up in February

Consumer sentiment rose by 0.3 points in February to 75.3, as measured by the University of Michigan’s Consumer sentiment index. The reading is significantly higher than the preliminary February reading of 72.5, indicating sentiment improved in the second half of the month. February’s improvement makes the sixth straight improvement since the index hit record lows in August on stalled debt talks in Washington.

The improvement in the index was led entirely by the future expectations portion of the index, which improved to 70.3 from 69.1. The present conditions component of the index fell from 84.2 to 83.0.

Short term inflation expectations remained unchanged at 3.3% over one year. Long term expectations rose with 5-year inflation expectations rising from 2.7 to 2.9%.

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