Tags: consumer | sentiment | index | Michigan

Consumer Sentiment Falls on Long-Term Worries

Friday, 28 March 2014 10:18 AM

U.S. consumer sentiment fell in March as consumers were less hopeful about the prospects for the overall economy, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's final March reading on the overall index on consumer sentiment came in at 80.0, up a tick from the preliminary 79.9 March reading but down from an 81.6 the month before.

It was slightly below the median forecast of 80.5 among economists polled by Reuters.

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"Current conditions in the overall economy were reported by consumers to have recently weakened, and long term prospects for the economy softened," survey director Richard Curtin said in a statement.

The survey's barometer of current economic conditions fell to 95.7 from the preliminary 96.1 reading but edged up from the 95.4 reading in the prior month. Expectations called for a 96.3 reading.

The survey's gauge of consumer expectations slipped to 70.0 from the 72.7 in February, but rose from the preliminary 69.4, and was just below an expected 70.2.

The survey's one-year inflation expectation remained unchanged at 3.2 percent from both the February and preliminary March readings, while the survey's five-year inflation outlook was also unmoved at 2.9 percent.

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The Thomson Reuters/University of Michigan final index of sentiment fell in March to 80 from 81.6 a month earlier.
Friday, 28 March 2014 10:18 AM
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