Consumer confidence index in America has declined to the lowest level since November 2022

Consumer confidence in America has declined this month with more than previous estimates, according to the Michigan University index issued on Friday.
The university stated that the final reading of the index during the current month decreased to 57 points, while the initial reading was 57.9 points.

Consumer confidence in America

The index fell according to the final data severely compared to the past month, which scored 64.7 points, to reach its lowest level since 56.7 points in November 2022.
The sharp decline of the main index of this month reflects a significant decline in consumer expectations.
The sub -forecast index fell to 52.6 points during the current March, compared to 64 points during the past month to score its lowest level since July 2022.

Inflation in America

The Michigan University report indicated a slight decline in the confidence index in the current economic position, to 63.8 points, compared to 65.7 points last month.
On the level of consumer expectations of inflation during a year to 5%, compared to 4.3%, according to last month survey, to reach its highest levels since November 2022.
With regard to the longest inflation, consumers’ expectations increased during the current month to 4.1% compared to 3.5% during the past month.