Consumer sentiment inched down at the end of February, but still exceeded expectations after shooting up in a mid-month reading.
The University of Michigan’s report on consumer attitudes about the economy slipped to 99.7 in February. A survey of Reuters economists expected the number to fall to 99.3.
The index reached 99.9 in the prior February reading, its second-highest level since 2004.
The survey measures 500 consumers’ attitudes on future economic prospects, in areas such as personal finances, inflation, unemployment, government policies and interest rates.