Slowing inflation giving consumers greater confidence in their finances.
Consumer sentiment was up slight in March, but remained essentially unchanged since January 2024, solidifying the large gains from December and January, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index rose to 79.4 in the March survey, up 3.3% from 76.9 in February and 28.1% above last March’s 62.0.
Consumers exhibited confidence that inflation will continue to soften, said U-M economist Joanne Hsu, director of the Surveys of Consumers. Assessments and expectations of personal finances improved modestly from last month, as the perceived negative effects of
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