Consumer Sentiment Edges Up to 56.6, Third Straight Monthly Gain
The University of Michigan Consumer Sentiment Index rose to 56.6 in February, extending a modest recovery from December's 52.9 low but remaining well below historical averages.
The University of Michigan Consumer Sentiment Index rose to 56.6 in February 2026, up from 56.4 in January and 52.9 in December 2025, marking three consecutive months of improvement.
Despite the upward trend, the index remains significantly depressed. The historical average for the sentiment index is approximately 85, meaning current readings are roughly a third below normal levels.
Consumer Sentiment Trend
| Month | Index | Monthly Change |
|---|---|---|
| February 2026 | 56.6 | +0.4% |
| January 2026 | 56.4 | +6.6% |
| December 2025 | 52.9 | -- |
Context
The sentiment index captures consumer attitudes about personal finances, business conditions, and buying conditions. The current level of 56.6 is comparable to readings during the 2008 financial crisis and the early months of the COVID-19 pandemic.
The disconnect between sentiment and labor market data is notable. The unemployment rate fell to 4.3% in March and weekly jobless claims dropped to 202,000 -- both signaling a tight labor market. Yet consumers remain pessimistic, likely reflecting concerns about elevated prices, housing affordability, and geopolitical uncertainty.