Consumer sentiment in the U.S. showed an unexpected decrease in the month of March, according to a report released by Reuters and the University of Michigan on Friday.
The report showed that the consumer sentiment index fell to 74.3 in March from 75.3 in February. The drop surprised economists, who had expected the index to increase to 76.0.
The drop in consumer sentiment reflects a deterioration in the outlook for economic conditions, with the consumer expectations index falling to 68.0 in March from 70.3 in February.
On the other hand, the current economic conditions index climbed to 84.2 in March from 83.0 in the previous month.
The report also showed that one-year inflation expectations jumped to 4.0 percent, while five-year inflation expectations edged up to 3.0 percent.
by RTT Staff Writer
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