Today's release of the Reuters/University of Michigan Survey of Consumers for February indicated an increase in consumer sentiment with a reading of 75.1 climbing 2.04% over the level seen last year.The Index of Consumer Expectations (a component of the Index of Leading Economic Indicators) declined to 67.6, and the Current Economic Conditions Index increased to 86.8.
It's important to recognize that while consumer sentiment is still higher than the panic laden trough level seen in late 2008, the current sentiment level is still far lower than any level seen during the 2001 tech recession and roughly equivalent to the worst seen during the early 1990s and second dip 1982 recessions.
