#USConsumerConfidence The Michigan Consumer Confidence Index, a key measure of consumer confidence, has recorded a figure lower than expected in its latest release.

The index, produced by the University of Michigan, stood at 71.1, below the predicted 73.2.

This latest figure not only fell short of forecasts but also decreased compared to the previous reading of 74.0, indicating a slight decline in consumer optimism regarding current and future economic conditions.

The index, which surveys about 500 consumers, serves as a barometer of the health of the economy, given that consumer spending represents a significant part of economic activity.$BTC