UMich March prelim consumer sentiment 76.5 vs 76.9 expected

• Prior was 76.9
• Current conditions 79.4 vs 79.2 expected (prior was 79.4)
• Expectations 74.6 vs 75.1 expected (prior was 75.2)
• One-year inflation 3.0% vs 3.0% prior
• Five-year inflation 2.9% vs 2.9% prior

These numbers are all close to expectations. The report said:

“Small improvements in personal finances were offset by modest declines
in expectations for business conditions. 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.”

Last month’s reading was the highest since 2021 so the dip is hardly catastrophic.

I find this data series to be largely useless and is more of an indication of the political mood and gas prices than spending.

This article was written by Adam Button at www.forexlive.com.