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

Initial 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 overall health of the economy.

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

Customer sentiment aids 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 overall health of the economy.

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

Customer sentiment aids 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 nonetheless properly beneath 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 relatively higher. Shoppers expects rates to enhance three.eight% in the subsequent year, down from four.1% in the prior month.

That is the lowest reading because April 2021.

Industry 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 right after the failure of Silicon Valley Bank.