University of Michigan Consumer Sentiment Index Down 0.7 Point

In February, the University of Michigan Consumer Sentiment Index fell back slightly, falling 0.7 point to 73.7. Despite the decline, this was still the second highest level in over a year. The drop was entirely due to the future expectations component, which fell 3.2 points. In contrast, the current conditions component improved by 3.0 points.

Inflation expectations fell slightly. Looking forward one year, expectations dropped to 2.7 percent, from 2.8 percent in January. The five-year outlook fell to 2.8 percent, down from 2.9 percent in January.

1966 = 100	Feb	Jan	Dec	Nov	Oct	Sep
Headline Index	73.7	74.4	72.5	67.4	70.6	73.5
Current Conditions	84.1	81.1	78.0	68.8	73.7	73.4
Future Expectations	66.9	70.1	68.9	66.5	68.6	73.5

10.02.12 (Source: University of Michigan)