Economics
U.S. Consumer Sentiment Remains at Decade-Low on Inflation Woes
- University of Michigan gauge of confidence at 62.8 in February
- Year-ahead inflation measure at 4.9% versus 3.3% a year ago
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U.S. consumer sentiment improved in late February from earlier in the month but held at a decade-low as inflation concerns remained elevated.
While the University of Michigan’s final February reading of sentiment picked up to 62.8 from 61.7 earlier in the month, it fell from a month earlier, data released Friday showed. The median estimate called for the index to remain unchanged from the preliminary reading.