CHICAGO, March 28 (Xinhua) -- The Consumer Sentiment Index released Friday by the University of Michigan (UM) Surveys of Consumers fell to 57.0 in the March 2025 survey, down from 64.7 in February and below last March's 79.4.
The final reading of consumer sentiment in March fell to a 32-month low.
Meanwhile, the current index fell to 63.8, down from 65.7 in February and below last March's 82.5. The expectations index fell to 52.6, down from 64.0 in February and below last March's 77.4.
Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation. Two-thirds of consumers expect unemployment to rise in the year ahead, the highest reading since 2009.
Year-ahead inflation expectations jumped up from 4.3 percent in February to 5.0 percent in March, the highest reading since November 2022 and marking three consecutive months of unusually large increases of 0.5 percentage points or more. Long-run inflation expectations surged from 3.5 percent in February to 4.1 percent in March.
"Consumer sentiment confirmed its early month reading and fell for the third straight month, plummeting 12 percent from February," said Joanne Hsu, director of UM's Surveys of Consumers. "The expectations index plunged a precipitous 18 percent and has now lost more than 30 percent since November 2024."
The Surveys of Consumers is a rotating panel survey based on a nationally representative sample that gives each household in the coterminous United States an equal probability of being selected. Interviews are conducted throughout the month by telephone.
