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U.S. consumer sentiment index rises slightly to 79.6 in February, reflecting modest economic optimism amid persisting inflation concerns.
Consumer sentiment in the U.S. increased slightly in February, according to the University of Michigan's consumer sentiment index, which rose to 79.6 from 79 in January.
The slight gain followed two months of large increases, and suggests that Americans are feeling more optimistic about the economy after years of pessimism.
Despite improvements in the sentiment index, it remains 6% below its pre-pandemic average due to persistent inflation concerns.
On the positive side, recent economic data shows continued growth, hiring, and a moderation of inflation, which could support increased consumer spending.