US Michigan consumer sentiment shows consumers do not anticipate a recession

US Michigan consumer sentiment eased in March to 90 from Feb’s 91.7. The data missed estimate of 92.2.

Key points in the text

Sentiment eased due to increased concerns about prospects for the economy as well as the expectation that gas prices would inch upward during the year ahead.

Consumers do not anticipate a recession; they no longer expect the economy to outperform the 2.4% rate of economic growth recorded in the past two years.