Friday, February 27, 2015

Consumer Confidence Fell Slightly in February

Consumer sentiment fell slightly in February according to the University of Michigan survey, however levels remain near the 11 year high set the previous month. Although gas prices remained low, an unusually harsh winter suppressed shopping, contributing to a slight 2.7% decline in consumer confidence from January leaving the index at 95.4.
Consumers tend to be more optimistic about present conditions that future expectations, with the present condition index falling slightly to 106.9. Future expectations dropped three points from last month to 88, but remain high in comparison to last February’s level of 72.
Inflationary expectations have increased somewhat, but remain anchored. Consumers expect prices to rise 2.8 percent in the next year, up noticeably from 2.5% in January.

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