Consumer Expectations Ease: Consumers’ expectations fell slightly...

Consumer Expectations Ease: Consumers’ expectations fell slightly in February, and a record number of consumers said they expect interest rates to continue rising over the year, according to a survey by the University of Michigan. The university’s index of consumer expectations, which measures consumer optimism, slipped to 88.8 last month from 89.9 in January. The base of 1966 equals 100. However, Richard Curtin, director of the university’s consumer survey, told a press conference, “Overall, the current level of consumer expectations remained quite positive.” The index is based mainly on questions about how consumers view their personal financial prospects as well as prospects for the economy over the short and long term.