WASHINGTON (MNI) – U.S. consumer sentiment rose at the end of
February to its highest level in a year, according to the
Reuters/University of Michigan Consumer Sentiment survey released
Friday.
The final February consumer sentiment index was 75.3, above the
median expectation of 72.8 in a Market News International survey of
economists, and compared to 72.5 in the preliminary report. This is the
highest reading since February 2011. The consumer sentiment index was
75.0 in January and 69.9 in December.
The index’s measure of how consumers view current conditions came
in at 83.0 up from 79.6 in the advance release but just below January’s
lofty reading of 84.2. The index was 79.6 in December’s report, and 77.6
in November.
The final gauge of consumers’ expectations of future conditions was
also the highest since February last year, rising to 70.3, a 2.3 point
increase from February’s preliminary reading. This after the index came
in at 69.1 in January and 63.6 in December.
According to the report, consumers’ 12-month economic outlook was
82.0 vs. 82.0 in January.
The final reading of consumers’ 1-year inflation expectations for
February was 3.3%, the same as in January. The expectation was for 3.1%
in December. Final five-year inflation expectations are at 2.9%,
compared to 2.7% in January’s report. December’s expectation was also
for 2.7%.
** Market News International Washington Bureau: 202-371-2121 **
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