The Consumer Sentiment Index fell to 64.7 in the February 2025 survey, down from 71.7 in January and below last February’s 76.9. The Current Index fell to 65.7, down from 75.1 in January and below last February’s 79.4. The Expectations Index fell to 64.0, down from 69.5 in January and below last February’s 75.2.

About the surveys

The Surveys of Consumers is a rotating panel survey at the University of Michigan Institute for Social Research. It is based on a nationally representative sample that gives each household in the coterminous U.S. an equal probability of being selected. Interviews are conducted throughout the month by web. The minimum monthly change required for significance at the 95% level in the Sentiment Index is 4.8 points; for the Current Index and Expectations Index, the minimum is 6 points.