U.S. consumer sentiment slipped in early March as the military conflict with Iran and higher gasoline prices disrupted what had been an improving trend in household confidence.
The University of Michigan’s preliminary consumer sentiment index fell to 55.5 from 56.6 in March, down 1.9 percent on the month and 2.6 percent from a year earlier.
“Consumer sentiment dipped about 2 percent, reaching its lowest reading of the year,” Surveys of Consumers Director Joanne Hsu said. “Interviews completed prior to the military action in Iran showed an improvement in sentiment from last month, but lower readings seen during the nine days thereafter…
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