Harsh weather cools U.S. consumer sentiment from record high

U.S. consumer sentiment fell in February affected by harsh weather, the Thomson Reuters/University of Michigan index of consumer sentiment revealed on Friday.

The final reading of the consumer sentiment in February fell to 95.4 from 98.1 in January, an 11-year high level.

"The small overall decline from January still left consumer confidence at the highest levels in eight years. It is hard not to attribute the small February decline to the temporary impact of the harsh weather," said survey director Richard Curtin in a statement.

The survey found consumer sentiment in the northeastern and mid- western part of the country that were suffering heavy snow and sleet fell three times more than the average level, while southern residents less affected by the weather grew more optimistic.

The personal consumption expenditures have enjoyed quick development, which contributed 2.83 percentage points to the economic growth in the fourth quarter of 2014, higher than its contribution rate of 2.2 percent in the third quarter, said the U. S. Commerce Department on Friday.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 106.9 from 109.3 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 88 from 91 in January. Endite