Ann Arbor, MI, Feb. 13, 2015 — Consumer sentiment declined in February after reaching an 11-year high in January, according to the Thomson Reuters/University of Michigan index.
The preliminary February reading decreased to 93.6 from a final January reading of 98.1. Economists were looking for a flat reading.
“Low gas prices have especially helped lower-income households, although consumers now widely anticipate that gas prices will edge upward during the year ahead,” said Richard Curtin, director of the Michigan Survey of Consumers, in a press release.
The survey’s index of expectations six months from now decreased to 87.5 from 91 last month.