U.S. Consumer Sentiment Improves in March

Consumer sentiment in the United States continued to rise in March, reaching its highest level in a year, data by the University of Michigan showed on Friday.

The Index of Consumer Sentiment improved by 10.5% to 84.9 in March, from 76.8 in February. However, it declined on an annual basis by 4.7% from its 89.1 reading in March 2020.

The Current Economic Conditions gauge rose by 7.9% to 93.0 from 86.2 last month, while the Index of Consumer Expectations increased by 12.7% to 79.7, from 70.7 in February.

The University of Michigan explained that the third disbursement of relief checks and progress in distributing vaccines helped improve consumer sentiment, alongside positive economic indicators and signs of the job market recovery.