Daily News: March 3, 2014

Sentiment Study: Consumers Showing ‘Resilience’

A gauge of consumer sentiment rose slightly this month, led by sunnier views on upcoming economic conditions, showing “remarkable resilience,” according to a report recently released by the University of Michigan.

According to the report, The consumer-sentiment index hit a final reading of 81.6 in February, compared with 81.2 at the end of January. For context, in the year leading up to the last recession, the consumer-sentiment gauge averaged 86.9.

“While the harsh winter weather has kept consumers away from retail outlets, it has not had a detrimental impact on their outlook for future economic conditions,” said Richard Curtin, chief economist for the survey. “Consumers have displayed remarkable resilience in the face of the polar vortex as well as higher utility bills and minimal employment gains.”

To read the entire MarketWatch report on consumer sentiment, click here.