Anna Arbor, MI, March 3, 2006--Consumer sentiment weakened slightly in late February, according to research from the University of Michigan.
The university reported that the consumer-sentiment index dropped to 0.07 points to 86.7 points in late February. The index stood at 91.2 in January.
Economists were expecting the final February index to inch higher to 87.7.
The current-conditions index fell to 105.6 points from 107.7 earlier in the month. The current-conditions index stood at 110.3 in January.
The expectations index improved to 74.5 points in late February from 74.4 earlier in the month. The index was 78.9 in January.
Earlier this week, the Conference Board reported that U.S. consumer confidence ended a three-month winning streak in February, falling to 101.7 points from a revised January level of 106.8.
The index had risen as high as 96.5 in July before Hurricane Katrina sent gasoline prices soaring. The index bounced back to 91.5 in December before falling the past two months as gasoline prices rose again.
