Consumer sentiment lifted for the third straight month in February, rising a modest 3% above January, supported by a 12% improvement in consumers’ outlook over the economy for the year ahead, according to the University of Michigan Surveys of Consumers.
However, sentiment remains well below its historical average; in spite of the recent slowdown in inflation, overall prices are still painfully high for consumers and continue to be at the forefront of their minds, said U-M economist Joanne Hsu, director of the surveys. CONTINUED
Institute for Social Research, University of Michigan