U.S. Consumer Sentiment Unexpectedly Slumps In February As Inflation Expectations Surge

RTTNews | 162日前
U.S. Consumer Sentiment Unexpectedly Slumps In February As Inflation Expectations Surge

(RTTNews) - Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of February, according to preliminary data released by the University of Michigan on Friday.

The University of Michigan said its consumer sentiment index slumped to 67.8 in February after rising to 71.1 in January. Economists had expected the index to inch up by to 72.0.

With the unexpected decrease, the consumer sentiment index dropped to its lowest level since hitting 66.4 in July 2024.

The deterioration by consumer sentiment came amid a surge by year-ahead inflation expectations, which spiked to 4.3 percent in February from 3.3 percent in January, reaching the highest level since November 2023.

Long-run inflation expectations also ticked up to 3.3 percent in February from 3.2 percent in January, remaining elevated relative to the 2.2-2.6 percent range seen in the two years pre-pandemic.

"Many consumers appear worried that high inflation will return within the next year," said Surveys of Consumers Director Joanne Hsu.

The report also said the current economic conditions index tumbled to 68.7 in February from 74.0 in January, while the index of consumer expectations fell to 67.3 in February from 69.3 in January.

read more
U.S. Consumer Sentiment Reaches Five-Month High In July

U.S. Consumer Sentiment Reaches Five-Month High In July

After reporting a substantial rebound by U.S. consumer sentiment in the previous month, the University of Michigan released a report on Friday showing a more modest improvement by consumer sentiment in the month of July. The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.
RTTNews | 1日前
U.S. Housing Starts Rebound More Than Expected In June

U.S. Housing Starts Rebound More Than Expected In June

New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday. The Commerce Department said housing starts surged by 4.6 percent to an annual rate of 1.321 million in June after plunging by 9.7 percent to a revised rate of 1.263 million in May.
RTTNews | 1日前
U.S. Business Inventories Remain Unchanged For Second Straight Month

U.S. Business Inventories Remain Unchanged For Second Straight Month

Business inventories in the U.S. remained unchanged for the second consecutive month in May, according to a report released by the Commerce Department on Thursday. The Commerce Department said business inventories were virtually unchanged in May after also coming in flat in April. The unchanged reading matched economist estimates.
RTTNews | 2日前
U.S. Homebuilder Confidence Modestly Improves In July

U.S. Homebuilder Confidence Modestly Improves In July

A report released by the National Association of Home Builders on Thursday showed a modest improvement in homebuilder confidence in the U.S. in the month of July. The report said the NAHB/ Wells Fargo Housing Market Index inched up to 33 in July after slipping to 32 in June. The uptick matched economist estimates.
RTTNews | 2日前
Philly Fed Index Surges To Five-Month High In July

Philly Fed Index Surges To Five-Month High In July

The Federal Reserve Bank of Philadelphia released a report on Thursday showing manufacturing activity in the region unexpectedly expanded overall in the month of July. The Philly Fed said its diffusion index for current general activity surged to a positive 15.9 in July from a negative 4.0 in June, with a positive reading indicating growth.
RTTNews | 2日前
U.S. Import Prices Inch Up 0.1% In June, Less Than Expected

U.S. Import Prices Inch Up 0.1% In June, Less Than Expected

Import prices in the U.S. inched up by less than expected in the month of June, the Labor Department revealed in a report released on Thursday. The Labor Department said import prices crept up by 0.1 percent in June after falling by a revised 0.4 percent in May.
RTTNews | 2日前
U.S. Retail Sales Rebound Much More Than Expected In June

U.S. Retail Sales Rebound Much More Than Expected In June

Retail sales in the U.S. rebounded by much more than expected in the month of June, according to a report released by the Commerce Department on Thursday. The Commerce Department said retail sales climbed by 0.6 percent in June after slumping by 0.9 percent in May. Economists had expected retail sales to inch up by 0.1 percent.
RTTNews | 2日前