University of Michigan Consumer Sentiment Index Down 1.1 Points

In March, the University of Michigan Consumer Sentiment Index fell back slightly, falling 1.1 point to 72.5. This was the second consecutive, modest, monthly decline. Even so, the index is significantly higher than its low last year. The drop was about equally due to both the current conditions component and the future expectations component. The prior fell 1.0 point, while the latter fell 1.2 points.

Inflation expectations were essentially unchanged. Looking forward one year, expectations rose slightly to 2.8 percent, from 2.7 percent in February. The five-year remained at 2.8 percent.

1966 = 100	Mar	Feb	Jan	Dec	Nov	Oct
Headline Index	72.5	73.6	74.4	72.5	67.4	70.6
Current Conditions	80.8	81.8	81.1	78.0	68.8	73.7
Future Expectations	67.2	68.4	70.1	68.9	66.5	68.6

10.03.12 (Source: University of Michigan)