(CercleFinance.com) – US consumer confidence improved more than expected in February, according to the preliminary results of the monthly survey conducted by the University of Michigan.
This confidence index rose to 66.4 this month, against 64.9 in January, while economists expected a more limited recovery, around 65 points.
A year ago, i.e. in February 2022, the ‘UMich’ index stood at 62.8.
The sub-index measuring consumers’ judgment of their current situation jumped to 72.6 in February from 68.4 the previous month.
The one that measures the evolution of their expectations, on the other hand, fell to 62.3, against 62.7 last month.
Joanne Hsu, the director of the survey, explains the improvement in the statistics by the recent moderation of inflation, but also highlights the concerns surrounding the prospect of a rise in unemployment, which according to her could weigh on the consumer spending in the coming months.
