(Washington) U.S. consumer confidence was at a decade low in February, although slightly better than initially estimated, with inflation worrying the wealthiest households, according to the final estimate of the survey. University of Michigan released Friday.
Posted at 10:28 a.m.
The index measuring this confidence fell to 62.8 points, against 67.2 in January. It is however better than the preliminary estimate published at the beginning of the month, which had shown a fall to 61.7 points.
Analysts also expected that the final estimate remains of this order.
“Although consumer confidence showed a slight increase in the last half of February, it remained at its lowest level in a decade, and the fall was still entirely due to a 12.9% decline among households with incomes of 100,000 dollars or more”, underlines Richard Curtin, the economist in charge of this very followed market survey.
He said the investigation was carried out before the start of Russia’s invasion of Ukraine.