Consumers remained largely sanguine about the economy and inflation in February, according to the latest sentiment survey from the University of Michigan released Friday.
The February index rose 0.6 points to 79.6 after posting strong gains in the prior two months.
The index of consumer expectations, a forecast of how Americans see the economy in the coming months, is now up 21.6% from a year ago.
Expectations for inflation did tick up slightly, with the 12-month level now at 3%, up from 2.9% in January.
“The upside surprise in the January PPI report echoes the month’s CPI report,” said Bill Adams, chief economist for Comerica Bank.
Persons:
”, Joanne Hsu, “ Consumers, Hsu, Jerome Powell’s, Ken Tjonasam, Powell, Bill Adams
Organizations:
University of Michigan, “, PPI, Global, CPI, Comerica Bank, “ Labor