US Consumer Sentiment Posts Surprise Drop From Initial Reading
- University of Michigan preliminary and final readings diverged
- Consumers still think inflation is cooling, survey says
Consumers expect prices will climb at an annual rate of 3% over the next year.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
US consumer sentiment faltered in late February as current views of the economy and the outlook deteriorated, marking a reversal from earlier in the month that showed a pickup in optimism.
The sentiment index declined to 76.9 from a preliminary reading of 79.6, according to the final February survey from the University of Michigan. The intramonth drop was the biggest since March 2020.