University of Michigan's Index of Consumer Sentiment posted a preliminary March level of 76.5, down from 76.9 in February; small improvements in personal finances were offset by modest declines in expectations for business conditions

March 15, 2024 (press release) –

Preliminary Results for March 2024

Partisan Perceptions and Expectations (February 23rd, 2024)
Next data release: Thursday, March 28, 2024 for Final March data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment moved little this month with a 0.4 index point decrease that is well within the margin of error, and thus sentiment has been steady and essentially unchanged since January 2024. Sentiment remained almost 25% above November 2023 and is currently halfway between the historic low reached during the peak of inflation in June 2022 and pre-pandemic readings. Small improvements in personal finances were offset by modest declines in expectations for business conditions. After strong gains between November 2023 and January 2024, consumer views have stabilized into a holding pattern; consumers perceived few signals that the economy is currently improving or deteriorating. Indeed, many are withholding judgment about the trajectory of the economy, particularly in the long term, pending the results of this November’s election.

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