US consumer confidence revised lower as economic outlook deteriorates

US consumer sentiment was revised lower for March, according to an updated survey from the University of Michigan on Friday, with confidence falling for the third straight month.

Source: Sharecast

The university's headline Index of Consumer Sentiment came in at 57.0 this month, down from an earlier estimate of 57.9.

This was 11.9% down from 64.7 in February and the lowest level since November 2022, with the expectations sub-index falling 17.8% over the month to 52.6. The current economic conditions indicator also eased 2.9% to 63.8.

"This month’s decline reflects a clear consensus across all demographic and political affiliations; Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation," said Joanne Hsu, director of the university's surveys of consumers.

"Consumers continue to worry about the potential for pain amid ongoing economic policy developments."

Hsu said that two-thirds of consumers now expect unemployment to rise over the coming year, the highest proportion since 2009, while year-ahead inflation expectations rose to 5.0% from 4.3% a month earlier.

Transferring your account

Transfer your existing ISAs and Share Dealing Accounts and you could save money. In order to transfer, log in to your existing account and complete the online application form. We’ll do the rest for you. It’s free to transfer (we will not charge you). Please check your current provider to see if they have any charges for transferring.

Transfer to us

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.