CCTV News: Preliminary survey data released by the University of Michigan on the 14th showed that the U.S. consumer confidence index in March fell for the third consecutive month, and the decline exceeded analysts' expectations.
The survey showed that the U.S. consumer confidence index in March was 57.9, significantly lower than 64.7 in February, and fell for three consecutive months, reaching the lowest level since November 2022. All groups divided by age, education level, income level, wealth status, etc. generally experience a decline in consumer confidence. Although the current economic situation has not changed much, consumer expectations in many aspects such as personal finance, labor market, inflation, business environment and stock market have deteriorated.
The survey pointed out that many consumers mentioned the high uncertainty of policies and other economic factors, and the frequent fluctuations in economic policies made it difficult for consumers to plan for the future. The survey also showed that consumer inflation expectations for the next year rose from 4.3% last month to 4.9% this month, the largest increase since November 2022, and had a "abnormal sharp rise" of 0.5 percentage points or more for three consecutive months.
