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
Military targets in Iran's Kharg Island have been "totally obliterated" in the latest U.S. bombing raids, U.S. President Donald Trump said Friday on Truth Social.
"Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran's crown jewel, Kharg Island," the president wrote in the post.
He added that he had "chosen NOT to wipe out the Oil Infrastructure on the Island."
"However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision," Trump wrote.
A spokesman from the Iranian Khatam al-Anbiya Central Headquarters warned on Saturday local time that the "smallest attack on the energy infrastructure and ports" will trigger a "crushing and devastating response".
"In the event of such aggression, all oil and gas infrastructure in the region in which the U.S. and its Western allies are stakeholders will be set on fire and destroyed," he said.
Located about 24 kilometers off the coast of Iran in the Gulf, Kharg Island serves as the export terminal for 90 percent of Iran's oil shipments.
U.S. carries out bombing raids on military targets in Iran's Kharg Island: Trump
U.S. carries out bombing raids on military targets in Iran's Kharg Island: Trump
