Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment was revised up from an index level of 75.1 to 77.5 in February, as the release noted for the first time in six years respondents reported hearing more positive than negative economic news during the month. The current conditions component was relatively unchanged during the February revision, but at 86.9, it is roughly five index points higher than in January. Most of the movement during the February revision came from the expectations component, which was revised up from 67.6 to 71.6, its highest level since September 2009. Inflation expectations were largely unchanged in late February. Median one-year-ahead inflation expectations remained at 3.4 percent in February (the average expectation was 4.4 percent). Longer-term expectations remained anchored, with average expectations at 3.2 percent and the median expectation remaining at 2.9 percent.