U.S. consumer sentiment rises in mid-March to highest in a year
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People wait in line to order at a coffee shop as the state of Texas lifts its mask mandate and allows businesses to reopen at full capacity during the coronavirus disease (COVID-19) pandemic in Houston, Texas, U.S., March 10, 2021. REUTERS/Callaghan O'Har
WASHINGTON (Reuters) - U.S. consumer sentiment improved in early March to its strongest in a year as COVID-19 cases declined and the pace of vaccinations accelerated, a survey showed on Friday.
The University of Michigan said its preliminary consumer sentiment index rose to 83.0 in the first half of this month from a final reading of 76.8 in February. Economists polled by Reuters had forecast the index rising to 78.5.
The survey's barometer of current economic conditions jumped to a reading of 91.5 from 86.2 in February. Its measure of consumer expectations rose to 77.5 from 70.7.
The survey's one-year inflation expectation decreased to 3.1% from 3.3%, while the survey's five-to-10-year inflation outlook was at unchanged at 2.7%.
(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)
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