Published on 4 Apr 2024 on Zacks via Yahoo Finance
5 Must-Buy Stocks as Consumer Sentiment Soars to 3-Year High
Consumers are a lot more optimistic about the economy’s future and believe that inflation will continue to cool. The positive outlook comes as the Federal Reserve gears up for the first of multiple rate cuts planned this year.
The University of Michigan’s Consumer Sentiment Index rose to a final reading of 79.4 in March, surpassing estimates of 76.5 and the highest reading since July 2021.
The sub-index for both the current economic condition and consumer improved from the February final readings. The survey's measurement of one-year inflation expectations fell to 2.9% in March from 3% a month earlier.