WASHINGTON (MNI) – The initial reading of U.S. consumer sentiment
fell in March, dropping to its lowest level since October last year
according to the Reuters/University of Michigan Consumer Sentiment
survey released Friday.
The index came in at 68.2 — well below median expectations of 76.0
— vs. the final reading of 77.5 reported for February. The consumer
sentiment index was 74.2 in January, 74.5 in December and 71.6 in
November.
The index’s preliminary reading for current conditions in March was
reported at 83.6, vs. 86.9 in February and January’s final 81.8.
Preliminary expectations plummeted to 58.3 vs. 71.6 last month and 69.3
in January.
Consumers’ preliminary 1-year inflation expectations for March rose
to 4.6%, up vs. February’s expectation of 3.4%. Five-year inflation
expectations also rose, at 3.2% vs. 2.9% from February.
** Market News International Washington Bureau: 202-371-2121 **
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