Economic Buzz: US Consumer Sentiment Weakens To Over 10-Year Low In March

14 Mar 2022 , 08:28 AM

US consumer sentiment index slid to 59.7 in March from 62.8 in February, its lowest level in over ten years in the month of March, according to a report released by the University of Michigan on Friday. With the bigger than expected decrease, the consumer sentiment index dropped to its lowest level since hitting 59.5 in September 2011. One-year inflation expectations jumped to 5.4 percent in March from 4.9 percent in February, while five-year inflation expectations held at 3.0 percent. While the report showed index of current economic conditions edged down to 67.8 in March from 68.2 in February, the index of consumer expectations slumped to 54.4 from 59.4.

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