Consumer Sentiment Slips From Post-Election High
|The University of Michigan's consumer sentiment index dipped to 96.3 in February from its cycle-high of 98.5 in January. The index of current economic conditions continues to rise and expectations dipped slightly.
Consumers Upbeat About Current Economy
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University of Michigan's consumer sentiment index dipped 2.2 points in February to a reading of 96.3. The index of consumer expectations fell but remains well above pre-election levels.
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Expectations for improved business conditions over the next year gave back some of their post-election jump in February. While still upbeat, consumers may be reassessing how quickly potential policy changes will impact business conditions.
Inflation Expectations Remain High
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Consumers' assessment of their current personal finances is at its highest level in over a decade. While expected changes over the next year dipped slightly, long-term prospects remain high.
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Inflation expectations have picked up over the past few months, possibly reflecting rising gasoline prices. Year-ahead inflation expectations rose to 2.7 percent in February, up from 2.6 percent in January and 2.2 percent in December.
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