US consumer confidence weakens in February
US consumer sentiment weakened in February, according to the final reading from the University of Michigan.
The consumer sentiment index printed at 96.3, better than the preliminary estimate of 95.7 but below January's 13-year high of 98.5 and the reading of 91.7 in February 2016.
Analysts had expected a reading of 96.0.
Meanwhile, the current economic conditions index nudged up to 111.5 in February from 111.3 the previous month and 106.8 in the same month last year.
The index of consumer expectations fell to 86.5 from 90.3 in January, but was up from 81.9 in February 2016.
Surveys of Consumers chief economist Richard Curtin said: “While consumer confidence edged upward in late February, it remained slightly below the decade peak recorded in January. Overall, the sentiment index has been higher during the past three months than anytime since March 2004.
"Normally, the implication would be that consumers expected Trump's election to have a positive economic impact. That is not the case since the gain represents the result of an unprecedented partisan divergence, with Democrats expecting recession and Republicans expecting robust growth."