U.S. consumer sentiment rises in reflection of shutdown recovery: U. of Mich.
The numbers: The preliminary University of Michigan consumer sentiment index for March moved higher for the second straight month, with the index rising to 97.8 from 93.8 in the prior month.
What happened: The gain in early March was due to households with incomes in the bottom two-thirds of the distribution, said Richard Curtin, the surveys of consumers chief economist. These householders felt better about their personal finances than more wealthy households.All income groups voiced more positive prospects for growth in the overall economy. Year-ahead inflation rates moved lower.
The Atlanta Fed’s tracking estimate has dropped steadily and now shows a gain of only 0.4% in the January-March quarter. Economists are divided about the outlook for the remainder of the year. The sentiment data is upbeat, indicating real consumption will grow by 2.6% in 2019, Curtin said.
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