MarketWatch staffer Andrea Riquier reports "Sentiment weakens even as consumers expect lowest inflation on record," based on Friday's reading of the "preliminary" February 2016 University of Michigan Sentiment Index.
Basically, the current level is running well above normal historical levels, but directionally, mojo is off and notes of uncertainty are creeping in, even as job gains and inflation expectations remain in solid positive ground. Riquier writes:
The expectations component fell from 82.7 to 81.0 during the month. The gauge of current conditions was down less, falling from 106.4 to 105.8.
The next reading and revision from the University of Michigan is due Feb. 26.