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U.S. Consumer Sentiment Advances to One-Year High on Outlook

  • University of Michigan index rises to 83, topping estimates
  • Current conditions improved along with buying sentiment
A shopper carries boxes of shoes at a mall in Queens, New York.

A shopper carries boxes of shoes at a mall in Queens, New York.

Photographer: Peter Foley/Bloomberg
Updated on

U.S. consumer sentiment improved in early March by more than forecast, reaching a one-year high as more vaccinations and fiscal relief boosted optimism in the economic outlook.

The University of Michigan’s preliminary sentiment index jumped to 83 from 76.8 in February, data released Friday showed. The figure exceeded the median projection of 78.5 in Bloomberg’s survey of economists.