The University of Michigan revealed updated data on Thursday indicating an unforeseen boost in U.S. consumer morale in March.
According to the report, the consumer sentiment index for March was amended upwards to 79.4, a noticeable increase from the initial 76.5. The adjustment came as a surprise to economists who had anticipated the marker to remain unchanged.
Following this unforeseen adjustment, the consumer sentiment index for March now surpasses the final 76.9 tally in February.
The university report also showed that the index for current economic conditions rose from 79.4 in February to 82.5 in March. Meanwhile, the consumer expectations index demonstrated a similar upward trend, increasing from 75.2 in February to 77.4 in March.
