| A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved by much less than previously estimated in the month of February.
The University of Michigan said its consumer sentiment index for February was downwardly revised to 56.6 from a preliminary reading of 57.3.
With the unexpected downward revision, the consumer sentiment index is just above the January reading of 56.4 but still at its highest level in six months.
The report also said the current economic conditions index rose to 56.6 in February from 55.4 in January, while the index of consumer expectations edged down to 56.6 in February from 57.0 in January.
With regard to inflation expectations, the University of Michigan said year-ahead inflation expectations tumbled to 3.4 percent in February from 4.0 percent in January, hitting the lowest level since January 2025.
Meanwhile, the report said long-run inflation expectations held steady at 3.3 percent in February, just above the 2.8 percent to 3.2 percent range seen in 2024. |