USA. Consumer sentiment drops for the first time since November

Consumer sentiment has plummeted in the United States, as shown by the University of Michigan index. This Friday saw the first break in this indicator since November 11, 2022, confirming the expectations of the markets.

Between February 24th and March 17th the index measured by the University of Michigan fell from 67 to 63.4. The 63.4 is below the forecast, which also pointed to a drop in consumer sentiment, but falling to 66.9.

This University of the United States index measures current and future economic conditions through a survey of 500 consumers.

The indicator has been evolving positively since November 23, 2022, after the break seen on November 11, 2022. The provisional data of October 28 put North American consumer sentiment at 59.9 for November 11 to fall to the 54.7 (also provisional data).

The most recent data, from February 10, 2023, stood at 66.4 (provisional data) which evolved to 67 on February 24, 2023 (final data).