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Friday, March 26, 2021

Consumer sentiment reaches highest level in a year

 

  • University of Michigan March Consumer Sentiment: 84.9 vs. 83.3 expected and 83.0 prior.
  • Reaches highest level in a year, due to the third disbursement of relief checks and better than anticipated vaccination progress.
  • Current Economic Conditions: 93.0 vs. 91.5 prior
  • Index of Consumer Expectations: 79.7 vs. 77.5 prior.
  • The data point toward "robust increases in consumer spending," said Richard Curtin, UMich Surveys of Consumers chief economist.
  • "The ultimate strength and duration of the spending surge will depend on the rate of draw-downs in savings since consumers anticipate a slower pace of income growth."

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