Current Ind.: 80.8, pr. 81.8 (Feb), 81.1 (Jan), 78.0 (Dec),
68.8 (Nov), 73.7 (Oct), 73.4 (Sep), 66.6 (Aug), 70.5 (Jul)
Expectations: 67.2, pr. 68.4 (Feb), 70.1 (Jan), 68.9 (Dec),
66.5 (Nov), 68.6 (Oct), 73.5 (Sep), 65.0 (Aug), 63.2 (Jul)
12-Mo Infl.: 2.8%, pr. 2.7% (Feb), 2.8% (Jan), 2.5% (Dec),
2.7% (Nov), 2.9% (Oct), 2.2% (Sep), 2.8% (Aug), 2.9% (Jul)
5-Yr Infl.: 2.7%, pr. 2.9% (Feb), 2.9% (Jan), 2.7% (Dec),
3.0% (Nov), 2.9% (Oct), 2.8% (Sep), 2.8% (Aug), 3.0% (Jul)
Consumer sentiment dipped in the middle of March, sliding to 72.5 from February’s 73.6. Both the current conditions and the expectations indexes retreated. Confidence cooled in January and the UMich index has been in a range between 72.5 and 74.0 the past four months.
It was the expectations index that had the steeper drop out of the two sub-gauges and as it is the leading index within the report could point to weakness ahead. That, despite retail sales data for February coming in better than expected.
The news increased risk aversion in the equities markets, with stocks giving back opening gains as a result of the positive retail sales data to trade even by noon NY time. That capped the rally in risk appetite currencies which had started overnight.
