MICHIGAN (dpa-AFX) – The mood of American consumers in March was cloudy and higher than previously known. The University of Michigan’s consumer climate survey fell to 62.0 points from 67.0 points in the previous month, the university announced Friday after a second estimate. In the first survey, only a decline was reported to 63.4 points and analysts were expecting an index reading of 63.3 points.
March is the first time since last November that mood has dipped. According to Joanne Hsu, who was in charge of the survey, there is only a certain correlation between the deterioration of sentiments and the recent banking turmoil. On the contrary, there are now many signs that consumers are increasingly fearful of an economic recession in the United States.
The University of Michigan indicator is a measure of US consumer buying behavior. It is based on a telephone survey of around 500 households. An assessment of the financial and economic situation and the corresponding expectations are queried./jkr/jsl/he
AXC0292 2023-03-31/16:39
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