The Consumer Sentiment Index in the United States observed a monthly decline of 0.5% in March, the University of Michigan said in its preliminary report published on Friday. Year-on-year, the figure jumped by 23.4%.
The Current Economic Conditions remained stable at 79.4. Compared to the same month in 2023, it soared by 19.8%. The Index of Consumer Expectations decreased by 0.8% month-on-month. On an annual basis, it surged by 26.0%.
"After strong gains between November 2023 and January 2024, consumer views have stabilized into a holding pattern; consumers perceived few signals that the economy is currently improving or deteriorating. Indeed, many are withholding judgment about the trajectory of the economy, particularly in the long term, pending the results of this November's election," Surveys of Consumers Director Joanne Hsu said.
