Consumer Confidence Drops

Consumer confidence declined this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

The February preliminary index fell to a reading of 72.5, from 75 in January.

The reading was lower than economists’ median forecast of a 74.8 reading, Bloomberg reported.

The index averaged a reading of 89 in the five years leading up to the recession at the end of 2007.



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