U.S. consumer sentiment still at 10-year high despite falling short in February

https://www.wsj.com/articles/u-s-consumer-sentiment-falls-but-remains-near-decadelong-high-1487949608?mod=pls_whats_news_us_business_f&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7014+%28WSJ.com%3A+US+Business%29

A gauge of consumer sentiment fell slightly in February, but remained near a decadelong high, as self-identified Republicans and Independents remain confident in the economy after the election of Donald Trump.

Newsletter

Zero spam.

Still, the survey remains divided along partisan, political lines. Self-identified Democrats expect a recession while Republicans expecting robust growth. The recent rise in optimism, which saw a boost after Mr. Trump’s election in November, reflects a turnaround from consumers’ attitudes in October, when sentiment had matched a two-year low.

The University of Michigan said Friday that its final reading of consumer sentiment was 96.3 in February, up from its preliminary reading of 95.7 earlier this month but down from January’s final reading of 98.5. It is up 5% from February 2016.

3rd Party Advertisement

Economists surveyed by The Wall Street Journal had expected a February reading of 96. The index’s three month average is at the highest it has been for nearly 13 years.

A rise in consumer expectations is largely being driven by Independents as the polarized views of Republicans and Democrats largely offset each other. The forward-looking index of consumer expectations is up 5.6% from February a year ago and up 13% from October.


Read Original Story...
HEADLINES
Canada, Mexico and Japan want to revive the Trans-Pacific Partnership free trade deal
Defense stocks at record highs after Trump signs $110 billion arms deal with Saudi Arabia
Trump’s proposal to sell oil reserve shows decline in reliance on imports, weaning off OPEC crude
Japan, Trans-Pacific Partnership members to pursue trade deal without the U.S.
OPEC seen extending output cuts as Saudi Arabia says most members on board
Oil prices rise as OPEC, other producers are expected to extend, deepen supply cuts
About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

Speak Your Mind

*

Newsletter

Zero spam.