US consumer confidence fell for the third consecutive month in early March

The University of Michigan survey showed that the consumer confidence index in the United States fell to 59.7 points in the first half of March from 62.8 points in February, the lowest reading since September 2011, the third consecutive monthly decline. The survey measure of current economic conditions fell to 67.8 points in March from 68.2 points in February, and the consumer expectations index fell to 54.4 points in March from 59.4 points in February.

One-year inflation expectations in the survey rose to 5.4% in March, the highest level since 1981, from 4.9% in February, while five-year inflation expectations remained steady at 3.0% for the second month in a row.