USA: Deterioration in household morale in March (Umich)


(CercleFinance.com) – The morale of American households deteriorated in March, according to the final results of the University of Michigan’s monthly survey published on Friday.

The confidence index compiled by Midwest University fell to 62 (from 63.4 in the preliminary estimate) and 67 in February.

The component measuring consumers’ judgment of their current situation deteriorated in particular, dropping to 66.3 (against 66.4 in the preliminary estimate) after 70.7 the previous month.

That of the outlook is also down sharply, to 59.2 (against 61.5 in the preliminary estimate) and 64.7 last month.

Consumer confidence fell for the first time in four months, down about 8% from February but still 4% from a year ago.

“Overall, our data revealed multiple signs that consumers are increasingly expecting a recession to come,” the University says.

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