The Consumer Sentiment Index in the United States slumped by 2.7% on a monthly basis to 76.9 points in February, according to the final report published by the University of Michigan on Friday. On an annual basis, the figure was up 14.9%.
The Current Economic Conditions Index slid by 3.1% month-on-month but surged by 12.3% compared to February 2023. The Index of Consumer Expectations fell 2.5% compared to January and climbed 16.6% on an annual basis.
"Consumer sentiment moved sideways this month, slipping just two index points below January and holding the gains in sentiment seen over the past three months," the University of Michigan noted. "Consumers perceived few changes in the state of the economy since the start of the new year, and they appear to be assured that inflation will continue on a favorable trajectory," it added.
