Friday, March 28, 2014

Consumer Confidence Declines Slightly in March

Consumer sentiment declined by 1.6 points to 80.0, according to the University of Michigan Consumer Sentiment Index. The index decline was due to a drop in future expectations.

The decline in the index was driven by a drop in future expectations, shrinking from 72.7 to 70.0. Present conditions rose slightly by 0.3 points to 95.7, but did not fully recover from last month’s drop.

The report indicated that inflationary expectations unchanged from February, calling for 3.2% inflation over the next year and 2.9% over the next 5 years.

Consumer sentiment has risen 9% since its cycle low in October during the shutdown. Despite the improvement, consumer sentiment levels remain below levels seen last summer before the shutdown and debt ceiling talks began.

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