US consumer confidence fell for the first time in four months in March

The University of Michigan survey showed that the consumer confidence index in the United States fell to 63.4 points in March, compared to 67 points in February. Analysts had expected that consumer confidence would reach 67.0 points in March.

One-year inflation expectations eased to 3.8% in March from 4.1% in February, the lowest level since April 2021, and five-year inflation expectations eased to 2.8% in March, dipping from the 2.9%-3.1% range for only the second time in the past 20 months.

Other data showed that industrial production in the United States rose by 0.1% in February, compared to 1.3% in January, after an upward adjustment instead of 1.0%. On an annual basis, industrial production declined by 1.0% in February.