On Friday, the University of Michigan released preliminary data which surprisingly indicated a minor decline in U.S. consumer sentiment for the month of March. According to the report, the consumer sentiment index dipped slightly to 76.5 in March, following a decrease to 76.9 in February. This was contrary to economist predictions, which expected the index to remain static.
Joanne Hsu, Director of Surveys of Consumers, stated, "Consumer sentiment saw a minor movement this month, with a drop of 0.4 index points which falls well within the margin of error. Therefore, essentially, consumer sentiment has remained steady and unchanged since January 2024."
