The U.S. Consumer Sentiment Index fell to 55.5 in March, down from the final reading of 56.6 in February, according to a preliminary reading released Friday by the University of Michigan (UM) Surveys of Consumers.
The preliminary reading of the Current Economic Conditions Index rose to 57.8 in March, up from the final reading of 56.6 in February but below last March's 63.8. The Index of Consumer Expectations was 54.1, down from the final reading of 56.6 in February but higher than last March's 52.6.
The consumer sentiment dipped about 2 percent in March, reaching its lowest reading in 2026. A broad swath of consumers across incomes, ages and political affiliation all reported declines in expectations for their personal finance, down 7.5 percent nationally.
In March, year-ahead inflation expectations ended six months of consecutive declines, stalling at 3.4 percent. The current reading exceeds those seen in 2024 and remains above the 2.3-3 percent range seen in the two years before the pandemic, according to the UM preliminary reading.
U.S. consumer sentiment falls in March
U.S. consumer sentiment falls in March
The United Arab Emirates (UAE) has withdrawn from the Organization of the Petroleum Exporting Countries (OPEC) to secure its greater crude oil pricing autonomy and show its dissatisfaction with neighboring Arab states over their failure to condemn Iran's attacks on it, a Chinese expert on the Middle East said.
On Tuesday, the UAE announced it would withdraw from OPEC and the broader OPEC+ alliance, effective May 1. The move removes the bloc's third-largest oil producer and further weakens its influence over global oil supplies and prices.
In an interview with China Central Television (CCTV), Wang Jin, director of the Center for Strategic Studies at Northwest University in China, noted that disagreements over global energy pricing between the UAE and other OPEC members prompted the exit, as the country seeks greater autonomy over its crude oil exports.
"There are divergent views between the UAE and members of the OPEC or the broader OPEC+ alliance regarding international energy pricing. According to Saudi Arabian assessments, a price range of 80 to 90 U.S. dollars per barrel aligns with their national interests. However, the UAE tends to believe that a price of around 50 U.S. dollars per barrel is sufficient to meet its essential economic needs. Consequently, the UAE seeks to exit these mechanisms to gain more leverage over pricing and bolster its autonomy in global oil exports," Wang said.
Beyond economic disputes, Wang noted that the decision also stems from the UAE's dissatisfaction with regional neighbors, who failed to provide sufficient support to the UAE -- the most targeted Gulf nation by Iranian strikes -- during the recent tensions in the Middle East.
"The UAE harbors deep dissatisfaction with current regional policies. After the United States and Israel launched military strikes against Iran, the UAE has, in fact, been the most targeted Gulf nation by Iranian attacks. From the UAE's perspective, neighboring Arab states including Saudi Arabia and Qatar, have failed to offer sufficient support for it or issue more vocal condemnations of Iran's actions. This lack of support has fueled the UAE's significant resentment. Furthermore, as Iran itself is a member of both OPEC and OPEC+ alliance, the UAE is inclined to use its withdrawal from these mechanisms to demonstrate dissatisfaction over the regional status quo," he said.
UAE quits OPEC for pricing autonomy amid regional tensions: Chinese expert
