News
Consumer Confidence Takes Surprise Hit
Consumer confidence fell this month to 93.6 from last month's 98.1 benchmark, an 11-year high, on a University of Michigan survey. The result was well below the median forecasts of economists who expected a result identical to January's. The poll also found a decline in sentiment regarding overall economic conditions to 103.1 from 109.3. The news comes one day after a report that consumer spending barely budged in January despite hopes that plunging gas prices would encourage shoppers.
