The final
reading for the February Reuters/Michigan index of consumer sentiment came in
at 76.9 compared to the flash reading of 79.6 and the January final reading of 79.0.
This marked the first decrease in the indicator in three months.
Economists had anticipated
the indicator to stay unrevised at 79.6.
The details of
the latest Surveys of Consumers of the University of Michigan revealed that the
index of current economic conditions fell 3.1 per cent m-o-m to 79.4 this
month while the index of consumer expectations dropped by 2.5 per cent m-o-m
to 75.2.
The report also
showed that the year-ahead inflation expectations increased from 2.9 per cent in January to 3.0 per cent in February,
in line with the preliminary estimates. Meanwhile, the 5-year inflation
expectations remained unchanged at 2.9 per cent, also matching the preliminary
estimates.