U.S. consumer sentiment index rises in February

Consumer sentiment in the U.S. reached a multi-year high in February. The Conference Board’s index of consumer confidence rose to 130.8 in the month, the highest since the end of 2000. The index rose above expectations, adding to evidence that consumer confidence continues to be on strong footing.

Delving into details, the rebound was driven equally by the present situation and expectations indices. Consumers see the present situation as better compared to last month, with the index rising to 162.4. Consumers’ assessment of present business conditions rebounded a bit, while their assessment of labor market conditions was significantly more favorable. In the meantime, the expectations index rose to 109.7, with consumers’ appraisal of future business conditions, employment and income all indicating improvement in January.

The labor market differential, which gauges the net share of consumers that view employment as plentiful, also rebounded to 24.7.

“On the whole, today’s report suggests that household sentiment remains upbeat, and we view this as constructive for consumer spending in Q1 18”, added Barclays.

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