US: UoM Consumer Confidence Index improves to 95.5 in February from 91.2 in January

The University of Michigan on Friday reported that the Index of Consumer Sentiment in February improved to 95.5 (preliminary) from 91.2 recorded in January estimate and surpassed the market expectation of 93.

Key takeaways from the press release

• The early February gains reflect the end of the partial government shutdown as well as a more fundamental shift in consumer expectations due to the Fed's pause in raising interest rates. 
• While nominal income expectations remained at modest levels, consumers more frequently expected gains in their inflation-adjusted incomes in early February than at any other time in more than fifteen years
• The data indicate that personal consumption expenditures will remain the strongest sector in the national economy in 2019--up by 2.7% compared with a GDP gain of 2.2%.

February (preliminary) results

• Index of Consumer Sentiment at 95.5 vs 91.2 in January.
• Index of Current Economic Conditions at 110 vs 108.8 in January.
• Index of Consumer Expectations at 86.2 vs 79.9 in January.