Ann Arbor, MI, February 18--The University of Michigan said today its preliminary index of consumer sentiment decreased to 94.2 from 95.5 in January.
Economists were expecting the preliminary index to hold at 95.5. Forecasts ranged from a low of 88.5 to a high of 98.
The preliminary index is based on a phone survey of about 300 households. The final report for the month, due March 4, will reflect about 500 responses.
