Consumer confidence in the US exceeded forecasts in March

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The University of Michigan reported final data on the level of consumer confidence in the US in March. The corresponding index was 98.4 points, which is the maximum value since October 2018. A month earlier, it was at the level of 93.8 points. According to analysts, an increase in incomes of Americans, as well as lower fuel prices and the refusal of the Federal Reserve to raise interest rates in the near future had a positive impact of the index. The indicator, which determines the attitude of consumers to the current situation, amounted to 113.3 points against the February value of 108.5 points. Consumer expectations for the next 6 months improved to 88.8 points from 84.4 points. The forecast of US citizens for inflation over the next 12 months has been lowered to 2.5% from 2.6%. For the long run, it, by contrast, rose to 2.5% from 2.3%.

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