UMich Sentiment slid from its earlier flash print, but at 102.0 was the highest since April 2004
Notably, ‘current conditions’ hit a new record high, while hope dipped a little…
Most notably, as UMich’s Curtin points out, all of the March gain in the Sentiment Index was among households with incomes in the bottom third (+14.1); those in the middle third were unchanged, while the Index fell among households in the top third (-5.6)
“Households with incomes in the top third cited significantly greater concerns with government economic policies than last month, especially trade policies, with net references falling from +31 to just +1, offsetting their positive reactions to tax policies”
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