Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment rose sharply in the second half of March, erasing the entire decline in the first half of the month. Hearkening back to the “trend-bending” preliminary results of earlier this month, the difference between the preliminary and final estimates is by far the largest ever recorded. Heretofore at 71.8, the Index has been revised to 78.6. Two factors appear to have caused the sudden upward revisions in both of the Index’s components (Current Conditions and Expectations): consumers have discounted the ominous predictions about the effects of the reductions in federal spending, and consumers have renewed their expectation that gains in employment will accelerate through the rest of the year.