Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment revised sharply higher in late February, rising by 2.8 index points during the revision, and changing a modest decrease relative to January’s level into a slight uptick (from 75.0 in January to 75.3 in February). Most of the upward revision in February was due to an adjustment in the expectations component, which was revised up from 68.0 to 70.3 during the month, breaking through the 70.0 threshold for the first time in a year. The current conditions component was revised up slightly to 84.2, modestly above its January level of 79.6. Median short-run (one-year ahead) inflation expectations were revised up from 3.2 percent to 3.3 percent, and are now unchanged from a month ago. Also, longer-term (five-to-ten years ahead) expectations were unrevised at 2.9 percent, up from 2.7 percent in January.