Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment fell off a bit in March, slipping from an index level of 75.3 to 74.3. The slight overall decline came as a 2.3 point decrease in consumer expectations (from 70.3 to 68.0) was only partially offset by an 1.2 point increase in respondents collective judgment on current conditions. Median short-run (one-year ahead) inflation expectations jumped up from 3.3 percent to 4.0 percent, as gas prices spiked last month. Importantly, longer-term (five-to-ten years ahead) expectations on edged up from 2.9 percent to 3.0 percent, suggesting that respondents aren’t expecting a gas price spike to feed into an increase in longer-run price pressure.