Upward trend still intact
The University of Michigan’s survey of consumer sentiment showed the closely-followed index unexpectedly fell from 73.6 in February to 72.5 in mid-March.
Disappointing? Yes. However, a closer look at the general trend shows that consumer sentiment continues to slowly improve, despite the second-monthly decline.
Moreover, retail sales jumped in February, suggesting that consumers may finally be starting to feel a bit more confident about the prospects for a recovery.
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