India, March 28 -- Consumer sentiment in the U.S. fell by more than previously estimated in the month of March, according to revised data released by the University of Michigan on Friday.
The University of Michigan said its consumer sentiment index for March was downwardly revised to 57.0 from a preliminary reading of 57.9. Economists had expected the index to be unrevised.
The consumer sentiment index is down sharply from a reading of 64.7 in February, plunging to its lowest level since hitting 56.7 in November 2022.
The steep drop by the headline index largely reflected a substantial deterioration in consumer expectations, as the index of consumer expectations plummeted to 52.6 in March from 64.0 in February and hit its lowest level si...