Consumer sentiment well above expectations in preliminary March read

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The University of Michigan's preliminary March consumer sentiment index reading was 102.0, compared to the final February 99.7 and the preliminary February 99.9, according to market sources.

The expectations index was 88.6 compared to the final February 90.0 and the preliminary February 90.2.

The current conditions index was 122.8, compared to the final February 114.9 and the preliminary February 115.1.

Economists polled by IFR Markets had predicted a 99.5 reading for the main index, 89.8 for expectations and 106.1 for current conditions.

The five-year inflation expectation index was 2.5%, compared to 2.5% in February, while the one-year inflation expectation index was 2.9%, compared to 2.7% in February.

The University of Michigan index is not released to the press, but only to paying subscribers.

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Economic indicators Consumer sentiment index