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."