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UMich Consumer Sentiment Tumbles Most In 16 Months

Despite modestly beating the flash print earlier in the month, it appears consumers are less enamored with how awesome everything is in America. Printing 95.4 against January's 98.1 - this is the biggest MoM drop since Oct 2013. Both current conditions and future expectations dropped from January with fewer people expecting higher incomes, and a plunge in favorable business expectations over the last few months.