The latest Michigan Consumer Sentiment survey showed that U.S. buyers remained resilient in February, though the survey likely did not register the full level of concern being felt now from the mounting spread of coronavirus and slowing equity markets.

 

The final score of 101.0 was up from the preliminary estimate with only eight percent of consumers mentioning the virus. But that amount went up to 20% when just tallying the responses from the final two days of the survey.

Individual details showed some strength with 58% of consumers reporting that their finances improved in February, which is the highest level ever recorded.

The Wells Fargo Economics Group cautioned that, "depending on the virus' spread and equity market reaction, however, there is significant risk that virus fears dampen sentiment. Consumers are sensitive to big stock market moves, and the recent ~14% selloff in equity markets is likely to manifest itself in the March survey."