3/31, 4:00 PM (Source: TeleTrader)
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US consumer sentiment deteriorates in March

Consumer confidence across the United States worsened past expectations in March compared to the previous month, according to a report published by the University of Michigan on Friday, marking the first drop in four months.

The consumer sentiment index declined by 7.5% during this period to land at 62.0, while current economic conditions fell by 6.2% to 66.3, and the consumer expectations index decreased by 8.5% to 59.2. On an annual basis, consumer sentiment and expectations rose by 4.4% and 9%, respectively, while economic conditions slipped by 1.3%.

Year-ahead inflation expectations slid further to a two-year low of 3.6%, while long-run inflation expectations remained at 2.9%. The recent turmoil in the banking sector had a limited impact on the data, the report concluded.

Baha Breaking News (BBN) / ND