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US consumer sentiment continued to deteriorate in late March to a fresh decade low as inflation erode incomes, exacerbated by Russia’s invasion of Ukraine.
Source: University of Michigan
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The University of Michigan’s sentiment index edged down to 59.4 from 59.7 earlier in the month. The average estimate called for no change in a Bloomberg survey of economists.
A measure of current conditions rose to 67.2 from 67.8 earlier in the month. The survey’s index of future expectations was largely unchanged at the lowest level since 2011.
Consumers still anticipate inflation to expand 5.4% over the next year. They project prices will grow at an annual rate of 3% over the next five to 10 years, unchanged from February.
Nearly a third of consumers expect the overall financial position to drop in the upcoming ahead, the highest posted level since the survey started in the mid-1940s.
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