Consumer Sentiment declined 2.2 points in February to 96.3, according to the University of Michigan Consumer Sentiment Index.
The Current Economic Conditions Index rose 0.2 points to 111.5, while the Consumer Expectations Index fell 3.8 points to 86.5.
“While consumer confidence edged upward in late February, it remained slightly below the decade peak recorded in January. Overall, the Sentiment Index has been higher during the past three months than anytime since March 2004,” said Richard Curtin, chief economist of UM Surveys of Consumers. “Normally, the implication would be that consumers expected Trump’s election to have a positive economic impact. That is not the case since the gain represents the result of an unprecedented partisan divergence, with Democrats expecting recession and Republicans expecting robust growth.”
Read the University of Michigan Surveys of Consumers release.