After rebounding strongly in preliminary February data (as Democrats came to their senses over the fearmongered Trump tariff-flation), the final UMich sentiment survey print slipped lower with the headline lowered from 57.3 to 56.6. Both Current Conditions and Expectations were lower than the flash print with the latter falling to 2 month lows and the former holding at 4-month highs...

Does anyone else think its weird that all the numbers were exactly the same at 56.6

Source: Bloomberg

Democrats and Republicans led the decrease in inflation expectations...

Source: Bloomberg

UMich Survey Director Joanna Hsu noted that "all index components posted insignificant movements this month; overall, consumers do not perceive any material differences in the economy from last month."

Democrats confidence is at its highest since July 2025...

Year-ahead inflation expectations fell from 4.0% last month to 3.4% this month, the lowest reading since January 2025.

Hsu concludes that "A sizable month-to-month increase in sentiment for the largest stockholders was fully offset by a decline among consumers without stock holdings. Similar divergences were seen across income and education, where higher-income or college educated consumers exhibited increases in sentiment while lower-income or less-educated counterparts did not. With their much stronger income prospects and investment porfolios, wealthier and higher-income consumers feel better insulated from any possible risks to the economy."