University of Michigan preliminary results for March shows pandemic not generating consumer panic seen during 2008 financial crisis.
According to the University of Michigan Survey preliminary results released this morning, consumer sentiment fell in early March due to the spreading coronavirus and the steep declines in stock prices. Importantly, the initial response to the pandemic has not generated the type of economic panic among consumers that was present in the run up to the Great Recession according to Surveys of Consumers chief economist, Richard Curtin.
The mid-March index came in at 95.9, down 5.0% from 101.0 in February and down
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