The consumer sentiment index in the US. It fell to 76.2 (preliminary) in February from 79 in January, the latest consumer survey from the University of Michigan showed on Friday. This reading was worse than the market expectation of 80.8.
Further details from the release revealed that the Current Economic Conditions Index fell to 86.2 from 86.7 and the Consumer Expectations Index fell to 69.8 from 74.
Commenting on the data, “Consumer confidence declined in early February, with all the loss concentrated in the Expectations Index and among households with incomes below $ 75,000,” said Surveys of Consumers chief economist Richard Curtin.
“Households with incomes in the bottom third reported significant setbacks in their current finances, and fewer of these households mentioned recent income gains than at any time since 2014,” Curtin added.
Market reaction
The US Dollar Index it was down modestly after this report and was last seen gaining 0.23% on the day at 90.62.
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