Customer sentiment falls for initially time in 4 months — and that was ahead of Americans knew about SVB

Final Updated: March 17, 2023 at ten:07 a.m. ET

Very first Published: March 17, 2023 at ten:06 a.m. ET

The numbers: A survey of customer sentiment slid to 63.four in March and fell for the initially time in 4 months, reflecting angst amongst Americans about higher inflation and the wellness of the economy.

The preliminary reading in March was down from 67 in February, the University of Michigan mentioned.

Customer sentiment assists gauge how Americans really feel…

The numbers: A survey of customer sentiment slid to 63.four in March and fell for the initially time in 4 months, reflecting angst amongst Americans about higher inflation and the wellness of the economy.

The preliminary reading in March was down from 67 in February, the University of Michigan mentioned.

Customer sentiment assists gauge how Americans really feel about their personal finances as properly as the broader economy.

The index had fallen to a record low of 50 final summer season ahead of rebounding. Sentiment is nevertheless properly under a current peak of 88.three in April 2021 and a pre-pandemic higher of 101.

Inflation expectations, meanwhile, tapered off a bit bu remained pretty higher. Buyers expects costs to improve three.eight% in the subsequent year, down from four.1% in the prior month.

That is the lowest reading because April 2021.

Marketplace reaction: The Dow Jones Industrial Typical

DJIA

and S&ampP 500

SPX

fell in Friday trades amid nagging worries about the U.S. economic program just after the failure of Silicon Valley Bank.