A report released by the University of Michigan on Friday showed that unusual harsh winter weather in February proved to have weighed upon consumers. But increase in jobs and lower gas prices helped strengthened the consumer sentiments, showed report.

According to the report, the measure of consumer sentiment fell to 95.4 in this month. Despite the fall, it is the highest level in past eight years.

Consumer sentiment in January was 98.1, an 11-year high. Severe winter weather and lower gas prices highly affected the consumer optimism.

Richard Curtin, chief economist of the surveys, said in a statement that it is very hard not to attribute the small February decline to the temporary impact of the harsh weather.

Consumer sentiment drop seen in the Northeast and Midwest, which have been hit hard by bad weather, was triple the average loss, whereas consumer sentiments improved in the South, stated report.

According to the survey, low gas prices largely affected the lower-income households, lessening the difference between low-and high-income pocketbooks. The data showed that consumer spending will rise at a 3.3% rate in this year.

Curtin said, "The underlying strength that has kept confidence at high levels has been job gains. While buffeted by harsh weather and lower gas prices, consumers have remained focused on gains in jobs and wages".

But he also warned saying that without stronger wage increases consumers will increasingly mold their spending on the availability of the reduced prices.

The survey report showed that the consumers' assessment of the current economic activity and their expectations for the future have fallen.

The current conditions index fell to 106.9 in February from 109.3 but was above the last year index of February which was 95.4.