Consumer sentiment in the U.S. improved by less than initially estimated in the month of March, the University of Michigan revealed in a report on Friday.
The report said the consumer sentiment index for March was downwardly revised to 96.9 from the preliminary reading of 97.6. Economists had expected the index to be unrevised.
Despite the downward revision, the consumer sentiment index is still higher than the final February reading of 96.3.
The University of Michigan said the current economic conditions index climbed to 113.2 in March from 111.5 in February, while the index of consumer expectations was unchanged at 86.5.
On the inflation front, one-year inflation expectations fell to 2.5 percent in March from 2.7 percent in February, while five-year inflation expectations dipped to 2.4 percent from 2.5 percent.
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