Consumer Sentiment in U.S. Falls From 11-Year High: Economy

Consumer confidence declined in February for the first time in seven months as gasoline prices started to rise from a six-year low and tempered Americans’ optimism about the economy.

The University of Michigan preliminary sentiment index decreased to 93.6 from a final January reading of 98.1 that was the highest since the start of 2004. The median projection in a Bloomberg survey of economists called for no change from the previous month.