CONSUMER CONFIDENCE FLIES PAST EXPECTATIONS

Business Insider

The University of Michigan's preliminary February consumer confidence survey reading is out.

The reading suggests the index jumped to 76.3 in January, ahead of estimates for a slighter rise to 74.8 from last month's 73.8 reading.

The economic conditions sub-component increased to 88.0 from 85.0 last month.

The economic outlook sub-component increased to 68.7 from 66.6 last month.

Solid gains in both sub-components mark a change from last month, when sentiment toward current economic conditions fell and that toward future conditions rose.

Inflation expectations 1-year ahead were unchanged at 3.3 percent, while expectations for inflation 5 years out ticked up to 3.0 percent from 2.9 percent.



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