The University of Michigan’s final sentiment index fell to 76.8 from 79 in January, data released Friday showed. That was slightly better than the preliminary reading of 76.2 but well below the 101 a year ago, before the pandemic ravaged the economy and job market.
“The worst of the pandemic may be nearing its end, but few consumers anticipate persistent and robust economic growth in the years ahead or that employment conditions will be soon restored,” Richard Curtin, director of the survey, said in the report.
Consumers are less optimistic as millions remain unemployed and virus cases continue to be elevated in many parts of the country. Still, sentiment
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