Consumer Sentiment Down To Its Lowest Point Since 2011
March brought another dip in consumer sentiment, with the University of Michigan’s index registering its lowest level since August 2011. The March index was revised down to 59.4 from a reading of 59.7 two weeks ago. An index of 100 is equal to sentiment in Q1 1966. A year ago at this time, the index was 84.9. Consumer sentiment is now down 41.6 points from its peak in February 2020 and is even below the lows seen in four of the last six recessions. “When asked to explain changes in their finances in their own words, more consumers mentioned reduced living standards due to rising inflation than any other time except during the two worst recessions in the past fifty…