NEW YORK – U.S. consumer sentiment finished weaker in February compared with January on worries about the economy, which could crimp future spending, a report showed Friday.
The University of Michigan's final February index of consumer sentiment ended at 86.7, down from the preliminary February figure of 87.4 and January's final reading of 91.2, said sources who saw the subscription-only report.
The median forecast of Wall Street economists polled by Reuters was 88.0.
The survey's index of current conditions fell to 105.6 from 107.7 in early February and 110.3 at the end of January.
The gauge on consumer expectations ended at 74.5, flat from the preliminary February reading of 74.4 and lower than January's final reading of 78.9.
Confidence measures are often used as a gauge of future spending patterns. Consumer spending makes up roughly two-thirds of overall U.S. economic activity, and is seen as an indication of strength or weakness in economic growth.