UoM consumer sentiment index drops to 64.7 in February

(Sharecast News) - The University of Michigan revealed on Friday that its consumer sentiment index had been downwardly revised in February, down from 67.8 in January to 64.7- the lowest reading since November 2023. The current economic conditions gauge was also revised lower, dropping from 68.7 to 65.7, while the expectations dropped to 64 from 67.3.

Buying conditions for durables fell 19%, principally due to concerns that Donald Trump's newly announced tariffs would lead to price increases across the board.

Inflation expectations for the year ahead surged to 4.3% for the highest since November 2023, while the five-year outlook increased to 3.5%, the largest monthly increase in almost four years.









Reporting by Iain Gilbert at Sharecast.com