- The University of Michigan consumer sentiment index falls to 61.7 points in February, a much larger drop than expected and to its lowest level since October 2011.
- FX markets did not see any notable reaction to the recent poor data.
According to the preliminary February consumer survey from the University of Michigan, the consumer sentiment index fell to 61.7 points in February, well below expectations for a slight rise to 67.5 from 67.2 seen in January. this marks lowest reading since October 2011.
The current conditions index fell to 68.5 from 72.0 versus forecasts for a small rise to 73.0, its lowest reading since August 2011.
The consumer expectations index fell to 57.4 from 64.1 in January, its lowest reading since November 2011.
The One-year inflation expectations index rose to its highest level since July 2008, at 5.0% from 4.9% in January.
Source: Fx Street
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