Updated: 07-Feb-25 10:19 ET
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Updated: 07-Feb-25 10:19 ET |
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Highlights
- The preliminary University of Michigan Index of Consumer Sentiment for February dropped to 67.8 (Briefing.com consensus 71.3) from the final reading of 71.1 for January.
- In the same period a year ago, the index stood at 76.9.
Key Factors
- The Current Economic Conditions Index fell to 68.7 from the final reading of 74.0 for January. In the same period a year ago, the index stood at 79.4.
- The Index of Consumer Expectations decreased to 67.3 from the final reading of 69.3 for January. In the same period a year ago, the index stood at 75.2.
- Year-ahead inflation expectations jumped from 3.3% to 4.3%, which is the highest since November 2023 and only the fifth time in 14 years that there has ben such a large one-month increase.
- Long-run inflation expectations edged up to 3.3% from 3.2% in January.
Big Picture
- The key takeaway from the report is that the weakening in sentiment was described as "pervasive" across political, age, and wealth groups, underscoring the worrisome impact of higher inflation expectations.
Category |
FEB |
JAN |
DEC |
NOV |
OCT |
Sentiment |
67.8 |
71.1 |
74.0 |
71.8 |
70.5 |
Outlook |
67.3 |
69.3 |
73.3 |
76.9 |
74.1 |
Present conditions |
68.7 |
74.0 |
75.1 |
63.9 |
64.9 |