US consumer sentiment at second-highest level in 14 years
Consumer sentiment in the US improved in February, to its second-highest level in 14 years, according to data form the University of Michigan.
The consumer sentiment index rose to 99.7 from 95.7 in January and 96.3 in February last year.
Meanwhile, the current economic conditions index increased to 114.9 from 110.5 the month before and 111.5 in February 2017.
The index of consumer expectations printed at 90.0 compared to 86.3 in January and 86.5 in February last year.
Surveys of Consumers chief economist Richard Curtin said: "Consumer sentiment remained quite favourable in February, at its second highest level since 2004. Consumers based their optimism on favourable assessments of jobs, wages, and higher after-tax pay. The highest proportion of households since 1998 reported that their finances had improved compared with a year ago and anticipated continued gains during the year ahead.
"Economic news heard by consumers continued to be dominated by the tax reform legislation and net job gains, which was untarnished by the consensus view that interest rates would increase and stock prices would remain volatile."