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Consumer Sentiment Slips
Americans have grown less optimistic about the U.S. economy, according to a University of Michigan survey.
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Americans have grown less optimistic about the U.S. economy, according to a University of Michigan survey.
Preliminary results show the university's overall consumer sentiment index dropped to 91.2 this month from 95.4 at the end of February. Researchers say optimism declined among lower- and middle-income households but rose for top-third-income households.
The barometer's index for confidence in current conditions fell to 103 from 106.9 last month. The measure of longer-term expectations shrank to 83.7 from 88.
Still, survey director Richard Curtin says consumer confidence remains strong enough to support a 3.3% gain in personal consumption this year. The survey predicts inflation will rise to 3.0%.
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