WASHINGTON (MNI) – U.S. consumer sentiment rose at the end of
March, while one-year inflation expectations remain at a high level,
according to the Reuters/University of Michigan Consumer Sentiment
survey released Friday.
The final March consumer sentiment index was 76.2, above the median
expectation of 75.0 in a Market News International survey of economists,
and compared to 74.3 in the preliminary report. The consumer sentiment
index was 75.3 in February and 75.0 in January.
The index’s measure of how consumers view current conditions came
in at a lofty 86.0, up from 84.2 reported earlier in the month. The
index was 83.0 in February’s report, and 84.2 in January.
The final gauge of consumers’ expectations of future conditions
rose to 69.8 compared to 68.0 in the preliminary estimate. This after
the index came in at 70.3 in February and 69.1 in January.
According to the report, consumers’ 12-month economic outlook was
79.0 vs. 82.0 in February.
Soaring gasoline prices continue to influence the outlook for
inflation in the near-term, with final 1-year inflation expectations for
March at 3.9%. The expectation soared to 4.0% in the preliminary report
and was 3.3% in February. Final five-year inflation expectations are at
3.0%, compared to 2.9% in February’s report. January’s expectation was
for 2.7%.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
