Here comes consumer confidence ...

Various measures of US consumer confidence have spiked since the election in November. At 10 a.m. ET, the University of Michigan will release its latest survey of consumers.

Economists forecast that the preliminary consumer-sentiment index for February slipped to 98 from a 12-year high of 98.5 in January, according to Bloomberg.

“The post-election surge in confidence was driven by a more optimistic outlook for the economy and job growth during the year ahead as well as more favourable economic prospects over the next five years,” said Richard Curtin, the survey’s chief economist.

He said the improved confidence was because of brightened expectations, not any substantive improvement in conditions.

Since the election, this report has shown a partisan rift in how Americans feel about the economy’s future. Democrats became much more pessimistic, while Republicans were a lot more hopeful.

More to come …

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