Consumer Sentiment Falls From 3-Year High

Consumer sentiment fell this month from the highest level since November 2000, a University of Michigan survey found.

The survey’s preliminary index of consumer sentiment for February was 93.1, compared with a final reading of 103.8 for January.

Weak job growth is restraining optimism about an economy that has been growing at the fastest pace since 1984.

The current conditions index, which reflects perceptions of consumers’ financial situation and whether it is a good time to make major purchases, dropped to 100.4 from 109.5 in January.