UNITED STATES NEWS

Consumers sentiment rose slightly last month as growth improves, inflation falls

Feb 16, 2024, 8:33 AM

WASHINGTON (AP) — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom.

The University of Michigan’s consumer sentiment index, released Friday, ticked up to 79.6 in February, from 79 in January. The small gain followed two months of sharp increases that were the largest in more than 30 years. How Americans feel could impact the presidential race this year, which will likely focus heavily on President Joe Biden’s economic record.

Still, consumer sentiment remains 6% below its long-run average after the worst spike in inflation in four decades pushed up the cost of groceries, rent, gas, and other necessities, frustrating many consumers.

“The fact that sentiment lost no ground this month suggests that consumers continue to feel more assured about the economy, confirming the considerable improvements in December and January,” said Joanne Hsu, director of the consumer survey. “Consumers continued to express confidence that the slowdown in inflation and strength in labor markets would continue.”

Improving consumer confidence can often lead to greater spending, which can support economic growth. Since the pandemic, however, consumer spending has been mostly healthy even when measures of sentiment were quite low.

United States News

Associated Press

US investigating some Jeep and Ram vehicles after getting complaints of abrupt engine stalling

DETROIT (AP) — U.S. auto safety regulators are investigating complaints that some Ram pickup trucks and Jeep Wagoneer SUVs can lose power, shift into park and apply the emergency brake. The probe announced Monday by the National Highway Traffic Safety Administration covers about 150,000 vehicles made by Stellantis from the 2022 model year. All have […]

37 minutes ago

Associated Press

US-Russian journalist convicted in a rapid, secret trial, court records show

A Russian court has convicted Alsu Kurmasheva, a Russian-American journalist for the U.S. government-funded Radio Free Europe/Radio Liberty, of spreading false information about the Russian army and sentenced her to 6½ years in prison after a secret trial, court records and officials said Monday. The conviction in the city of Kazan came on Friday, the […]

1 hour ago

FILE - A Delta Air Lines jet leaves the gate, Friday, July 19, 2024, at Logan International Airport...

Associated Press

Air travel delays continue, though most airlines have recovered from global tech outage

Delays at some airports continue after a faulty software update caused havoc worldwide and led to the grounding by almost all airlines of a number of flights, but the impact is receding. Total cancellations within, into or out of the U.S. earlyl Monday totaled 758, according to the latest data from FlightAware, which is greater […]

2 hours ago

Associated Press

2024 Election Latest: Harris vows to ‘earn and win’ party nomination after Biden drops out

President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for reelection following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election. Meanwhile, Vice President Kamala Harris is being thrust into the most scrutinizing of spotlights, […]

2 hours ago

United States' forward LeBron James waves to the crowd after the end of an exhibition basketball ga...

Associated Press

LeBron James selected as Team USA male flagbearer for Paris Olympics opening ceremony

LeBron James wasn’t totally sure what the opening ceremony was all about when he was picked for his first Olympics in 2004. This time, he’ll be one of the stars of the show. James has been picked by his fellow U.S. Olympians to serve as the male flagbearer for the Americans in Friday night’s opening […]

3 hours ago

Environmental Protection Agency Administrator Michael Regan speaks to employees in Washington, Thur...

Associated Press

EPA awards $4.3 billion to fund projects in 30 states to reduce climate pollution

WASHINGTON (AP) — The Environmental Protection Agency is awarding $4.3 billion in grants to fund projects in 30 states to reduce climate pollution. The money will go to 25 projects targeting greenhouse gas emissions from transportation, electric power, commercial and residential buildings, industry, agriculture and waste and materials management. The grants are paid for by […]

5 hours ago

Sponsored Articles

...

Sanderson Ford

3 storylines to get you revved up for the 2024 Arizona Cardinals

Arizona Cardinals training camp is just a couple weeks away starting on July 25, and Sanderson Ford is revved up and ready to go.

...

Midwestern University

Midwestern University Clinic visits boost student training & community health

Going to a Midwestern University Clinic can help make you feel good in more ways than one.

...

Condor Airlines

Condor Airlines can get you smoothly from Phoenix to Frankfurt on new A330-900neo airplane

Adventure Awaits! And there's no better way to experience the vacation of your dreams than traveling with Condor Airlines.

Consumers sentiment rose slightly last month as growth improves, inflation falls