CNBC Daily Open: U.S. consumers upbeat on the economy
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American consumers remain steady and upbeat on the economy despite sticky inflation, according to the University of Michigan survey for February. The consumer sentiment index rose 0.6 points to 79.6, indicating that consumers continue to feel more assured about the economy. The survey also showed that consumers expressed confidence in the slowdown in inflation and strength in labor markets. However, the survey revealed that inflation expectations for the year ahead inched up to 3% from 2.9% in January. This comes after a surprise pullback in consumer spending in January and mixed economic data that delivered a one-two punch for markets last week.

#U.s.Economy #ConsumerSentiment #Inflation #ConsumerSpending

https://www.cnbc.com/2024/02/20/cnbc-daily-open-us-consumers-upbeat-on-the-economy.html