The University of Michigan Sentiment reading for the end of February has come in hotter than expected. This adjusted report came in at 75.3 and that is well above the 73.0 expected by the consensus economist targets from Bloomberg. The early February data was 72.5.
we would note that the reading break-down came in at 83.0 on the current component and 70.3 on the expectations component. This implies more activity behind rather than ahead, but either way this is a better reading than what economists were looking for. The 5-year inflation expectation was put at 2.9% while the 12-month inflation target expected was put at 3.3%.
The University of Michigan’s Consumer Survey Center asks questions to 500 households each month concerning their financial conditions and concerning their attitudes about the economy.
JON C. OGG
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