Weakening outlook due to high prices, not banking turbulence.
Consumer sentiment fell for the first time in four months in the wake of a 13% decline in consumers’ outlook over the economy for the year ahead, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index fell to 62.0 in the March 2023 survey, down from 67.0 in February and above last March’s 59.4. The Current Index fell to 66.3, down from 70.7 in February and below last March’s 67.2. The Expectations Index fell to 59.2, down from 64.7 in February and above last March’s 54.3.
Declines
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