The monthly University of Michigan consumer report was mixed in February.
First, on the sentiment side, UMich’s Consumer Sentiment Index (CSI) climbed to 66.4 this month, up from 64.9 in January. This also topped market estimates of 65.
The Consumer Expectations Index fell to 62.3, while the Current Conditions Index increased to 72.6.
Second, here is something the Federal Reserve might be frustrated by: one-year ahead inflation expectations jumped from 3.9 percent to 4.2 percent, and five-year ahead inflation expectations were unchanged at 2.9 percent.
Like every other piece of data that has come out since the beginning of 2023, the numbers are confusing!
What the heck is going on in the U.S. economy?
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