Consumer Sentiment Index

The preliminary reading for the University of Michigan Consumer Sentiment Index for February was not good. It

slumped to 61.7 from the final reading of 67.2 for January.

The February reading marks the lowest level for the index since November 2012.

The key takeaway from the report is that consumers see weakening personal financial prospects, largely due to

inflation, which raises the specter of a downturn in consumer spending for an economy that derives close to 70% of

GDP from consumer spending.