U.S. Consumer Sentiment Rebounds Less Than Initially Estimated In February

Trading 01 mar 2019 Donner votre avis

Consumer sentiment in the U.S. rebounded by much less than initially estimated in the month of February, revised data from the University of Michigan revealed on Friday.

The report said the consumer sentiment index for February was downwardly revised to 93.8 from a preliminary reading of 95.5.

The index is still well above the final January reading of 91.2, but the revised reading came in well below analyst estimates of 95.7.

"Although sentiment was still above last month's low, the bounce-back from the end of the Federal shutdown faded in late February," said Surveys of Consumers chief economist, Richard Curtin.

"While the overall level of confidence remains diminished, it is still quite positive," he added. "Nonetheless, aside from last month, it was only lower in one month since Trump's election, but barely, at 93.4 in July 2017."

The report said the current economic conditions index edged down to 108.5 in February from 108.8 in January, while the index of consumer expectations jumped to 84.4 from 79.9.

On the inflation front, one-year inflation expectations dipped to 2.6 percent in February from 2.7 percent in January and five-year inflation expectations slid to 2.3 percent from 2.6 percent.

"Long-term inflation expectations remained near the lowest level recorded in the past half century," Curtin said. "Among households with incomes in the top third, the reduction in inflation expectations was even greater, falling to an all-time low of just 1.9%."

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