The University of Michigan survey does not indicate emerging recession, but points toward slightly lower new vehicle sales.
Consumer confidence rebounded in March to 98.4 from last month’s 93.8, slightly above the average of 97.2 recorded in the past 26 months. The March gain was 4.9 percent compared to February, but remains 3 percent below the 101.4 reported in March 2018.
The March gain in the Sentiment Index, announced this morning, was entirely due to households with incomes in the bottom two-thirds of the income distribution, posting a gain of +7.1 Index-points, while households with incomes in the top third
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