U.S. Consumers Are Unfazed by Coronavirus Outbreak
February 14, 2020
The recent outbreak of the coronavirus has sparked panic in the stock market, but American consumers don’t seem concerned. The University of Michigan’s consumer sentiment index for February was at 100.9. virtually unchanged from the previous month. Economists had expected the index to come in at 99.5.
An economist for the consumer survey noted that Americans are feeling better about both their personal finances and the state of the national economy.
The coronavirus outbreak was not a major concern, with just 7 percent of consumers noting that it impacted their economic expectations in early February.