US consumer sentiment remains at an encouraging level: TD Economics

Quotes from TD Economics:

- Today's Conference Board consumer confidence index was disappointing but not surprising. Following a large 10.7 points gain in confidence in Jan, a repeat performance was unlikely and markets were calling for some pullback this month. That being said, consumer sentiment remains at an encouraging level and is likely to maintain its upward momentum going forward.

- The deterioration in the future expectations subcomponent was significant, however it came with a caveat. The lion's share of the weakening was not due to more respondents expecting a deterioration, but rather because a higher share was expecting business, employment and income conditions to remain the same.

- Looking through the monthly volatility, 2015 is shaping up as a good year for American consumers. Over the course of the next year, lower gasoline prices are expected to save households $900 on average. Other drivers of robust consumer spending include ongoing strength in the job market, low interest rates, and signs of a pickup in wage growth.