The University of Michigan Consumer Sentiment Index fell in February to 73.7.
That’s a decline from 74.4 in late January. The consensus estimate was looking for a climb to 75.
You want some good news? It’s still way above the 56.3 level the U of Mers measured a year ago.
Reuters: U.S. consumer sentiment slipped in early February, with high unemployment expected to continue and with most looking for no gain in income or home values in the year ahead, a survey released on Friday showed.
The reading fell short of analysts’ median expectation of a reading of 75.0, according to a recent Reuters poll.
The survey’s ga uge of current economic conditions was 84.1 in early February, the highest since March 2008. It was up from 81.1 in late January and above the 81.4 predicted by analysts polled by Reuters.
But the survey’s barometer of consumer expectations dipped to 66.9, down from 70.1 in late January and short of the 70.9 forecast by analysts.