Home Breaking News Consumer sentiment still strong in February, but comes off 13-year high

Consumer sentiment still strong in February, but comes off 13-year high

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People carrying shopping bags walk past a soon to be opening storefront on Fifth Avenue in New York City.

The level of optimism about the economy among U.S. consumers fell slightly in February but still pointed to steady growth, according to the final reading of a survey.

The survey of consumer sentiment, conducted by the University of Michigan, dipped to 96.3 this month, slightly better than the preliminary estimate of 95.7.

Just a month earlier the index had touched a 13-year high of 98.5, largely reflecting an upsurge in confidence following the election of now President Donald Trump. A surging stock market that keeps setting new records has also helped.

As reported by MarketWatch previously, though, there is a sharp divide on how Democrats and Republicans see the economy.

The “gain represents the result of an unprecedented partisan divergence, with Democrats expecting recession and Republicans expecting robust growth,” noted Richard Curtin, chief economist of the Michigan survey.



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