Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s index of consumer sentiment was revised up 1.1 points in late March to an index value unchanged from February’s reading of 73.6. Though this is still well below the levels seen in the years leading up to the start of the recession, it is a vast improvement from the cyclical low of 55.3 reached in November 2008. The current conditions component of the release was revised up 1.6 points to 82.4, its highest level since March 2008. The consumer expectations component was also revised up, by 0.7 point, though it is still slightly lower than February’s reading. One-year-ahead average inflation expectations were revised down from 3.5 percent to 3.4 percent in March, down 0.2 percentage point (pp) from February. The longer-run (5- to 10-year-ahead) expectations remain at 3.1 percent, 0.2 pp lower than February’s reading.