3/15, 3:00 PM (Source: TeleTrader)
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US consumer sentiment rises in March

Confidence among consumers in the United States improved in March, preliminary survey results conducted by the University of Michigan showed on Friday. The Michigan Consumer Sentiment Index (MCSI) figure stood at 97.8, advancing 4.3% compared to February and being lower 3.6% year-over-year.

Current economic conditions stood at 111.2, up 2.5% from last month and down 8.3% versus last year. Consumer expectations rose 5.7% compared to the previous month and 0.5% year on year, reaching 89.2.

"All income groups voiced more positive prospects for growth in the overall economy during the year ahead. Since households with incomes in the top third account for more than half of all consumer expenditures, cautious observers will conclude that the latest data are another indication that the end of the expansion is on the distant horizon," chief economist for surveys of consumers Richard Curtin said, adding the "data indicates that real consumption will grow by 2.6% in 2019 and that the expansion will set a new record length by mid-year."

Breaking the News / MD