Consumer Sentiment in U.S. Declines From an 11-Year High

[mahatmakanejeeves]

Source: Bloomberg

by Bloomberg News
10:00 AM EST
February 13, 2015

(Bloomberg) -- Consumer confidence fell in February as gas prices started to rise from a six-year low and damped Americans’ optimism about the economy.

The University of Michigan preliminary sentiment index decreased to 93.6 from a final January reading of 98.1 that was the highest since the start of 2004. The median projection in a Bloomberg survey of economists called for no change from last month.

Prices at the gas pump have climbed this month from a six-year low, and the survey showed more Americans were less upbeat about the labor market after hearing of dismissals in the oil patch. Consumers also said they were less enthusiastic about making big purchases.
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To contact the reporter on this story: Michelle Jamrisko in Washington at [email protected]

To contact the editor responsible for this story: Carlos Torres at [email protected] Vince Golle

Read more: http://www.bloomberg.com/news/articles/2015-02-13/consumer-sentiment-in-u-s-fell-in-february-from-11-year-high

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Surveys of Consumers, University of Michigan

Surveys of Consumers chief economist, Richard Curtin

Consumer optimism slipped in early February due to renewed concerns over employment and wage growth as well as a diminished outlook for the domestic economy. Although confidence reversed the January gain, returning to the December level, the Sentiment Index was still higher than any other time since January 2007. The February decline was larger among residents of the Northeast and Midwest, who had to cope with unusually harsh winter storms, while residents of the South posted modest increases in confidence. Low gas prices have especially helped lower income households, although consumers now widely anticipate that gas prices will edge upward during the year ahead. The small reversals in early February are hardly sufficient to alter last month's more favorable forecast that real personal consumption expenditures will grow by 3.3% in 2015.

Early February Consumer Sentiment Index Falls

[fasttense]

1. Those are some really stupid consumers

Really, their sentiments were at an 11 year high while suffering through the worst economic downturn since the RepubliCON Great Depression.

I really have to wonder how they are able to consistently pick such stupid people.