US consumer confidence rose in March

US consumer confidence rose in March

The expectation of consumers in the United States is that inflation will continue to soften and the confidence index is the highest in almost three years. The data excites the market.

The American consumer confidence rose unexpectedly in March to reach the highest level in almost three yearsthanks in part to the growing prospect that inflation will continue to soften.

He University of Michigan Consumer Confidence Index (CCI) He stood at 79.4 points, the highest level since July 2021up from 76.9 in February, also beat consensus estimates of 76.5 in a Reuters poll of economists, which had been the same as the preliminary March estimate released two weeks ago.

Consumer assessments of both the current situation and the economic outlook improved with respect to the final readings of March and February.

US inflation expectations fall

The One-year inflation expectations decreased to 2.9% from 3% February, matching January’s reading, which had been the lowest since December 2020. Over a five-year horizon, consumers expected inflation to decline to 2.8% from 2.9% last month.

Source: Ambito

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