Consumer sentiment in the United States declined further in March, according to a report by the University of Michigan published on Friday. The related index plunged to 57.9 from 64.7 in February, falling short of forecasts. "While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy, including personal finances, labor markets, inflation, business conditions, and stock markets," the report said.
The current conditions index dipped to 63.5 from 65.7, and the expectations indicator slid to 54.2 from 54 in February. One-year inflation expectations grew to 4.9% compared to 4.3% in February, the highest reading since November 2022, while five-year expectations stood at 3.9% from 3.5% last month.
