Consumer Sentiment Slides in February Says U of Michigan

Ann Arbor, Michigan, March 5, 2015—University of Michigan’s final February reading on the overall index on consumer sentiment was 95.4, sliding from January’s 98.1, which was the highest since January 2004, reports SMN Weekly.

February’s final number, however, was higher than the initial estimate of 93.6 released in the middle of the month, and was stronger than the market forecast of 94.0.

SMN Weekly reports that the survey’s barometer of current economic conditions fell to 106.9 from 109.3 in January but beat a forecast of 103. The report’s gauge of consumer expectations also slipped to 88 from 91 but was roughly in line with forecasts for this metric.

Prices at the gas pump have climbed 31 cents a gallon this month and most consumers surveyed anticipate further gains, tempering optimism, said SMN.