University of Michigan Consumer Confidence Index (Final) Falls to 76.8 in February from 76.5 Expected

  • Consumer confidence continued to deteriorate in February in the United States.
  • The US Dollar DXY Index is holding on to strong daily gains above 90.60 after the data.

The US (final) consumer sentiment index fell to 76.8 points in February from January 79, the latest University of Michigan consumer survey showed on Friday. This reading has been better than market expectation of 76.5 and the advanced estimate of 76.2.

Additional details from the post revealed that the current economic conditions index dropped to 86.2 from 86.7 and the consumer expectations index fell to 70.7 from 74.

Commenting on the data, “despite a small gain at the end of February, consumer confidence was slightly lower throughout the month than in January“said the chief economist of the consumer survey, Richard Curtin.”Perhaps the most attention has been captured by rising inflation expectations. Next year’s inflation rate is expected to be 3.3% in February, up from 3.0% last month and 2.5% in December. “

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