Economic Buzz: US Consumer Sentiment Tumbles To Decade Low In February

14 Feb 2022 , 08:32 AM

US consumer sentiment has unexpectedly slumped to its lowest level in over a decade in February, preliminary data released by the University of Michigan on Friday showed. The report showed the consumer sentiment index tumbled to 61.7 in February from 67.2 in January, hitting its lowest level since October of 2011. The report showed the current economic conditions index slid to 68.5 in February from 72.0 in January, while the index of consumer expectations tumbled to 57.4 from 64.1. On the inflation front, one-year inflation expectations inched up to 5.0 percent in February from 4.9 percent in January. Five-year inflation expectations held at 3.1 percent.

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