US consumer confidence rises in March

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The Consumer Sentiment Index in the United States rose 3.3% in March month on month to stand at 79.4, the University of Michigan revealed in its final report on Thursday. The figure jumped 28.1% on an annual level.

The Current Economic Conditions Index gained 3.9% compared to the month prior and 24.4% from March 2022, amounting to 82.5 points. The Index of Consumer Expectations increased by 2.9% on a monthly basis and 30.7% on a yearly basis, reaching 77.4.

“Year-ahead inflation inched down from 3.0% last month to 2.9% this month. For the third straight month, short-run inflation expectations have fallen within the 2.3-3.0% range seen in 2018 and 2019. Long-run inflation expectations also inched down, from 2.9% to 2.8%, and remain modestly elevated relative to the 2.2-2.6% range seen in the two years pre-pandemic,” it was specified in the report.

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